Why is Mercury EV-Tech falling/rising?

As of 11-Sep, Mercury EV-Tech Ltd is experiencing a decline in its stock price, currently at 49.56, which reflects a decrease of 0.39 or 0.78%. The stock has underperformed its sector by 0.49% today and has been on a consecutive downward trend for the last two days, resulting in a total decline of 3.11%. Additionally, the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Despite reporting healthy long-term growth with net sales increasing at an annual rate of 123.69% and a significant operating profit growth, the company faces challenges such as a high Debt to EBITDA ratio of 9.32 times, which indicates a low ability to service debt. Furthermore, the stock's return on equity is low at 2.73%, and domestic mutual funds hold no stake in the company, suggesting a lack of confidence in its valuation.
In the broader market context, Mercury EV-Tech's short-term performance has been notably poor, with a 1-week return of -2.42%, while the benchmark Sensex has gained 1.03% during the same period. Over the past year, the stock has underperformed significantly, with a return of -40.98% compared to the Sensex's minimal increase of 0.03%. This stark contrast highlights the stock's struggles relative to the overall market, further compounded by its recent price movements and investor sentiment.