Why is Mercury EV-Tech falling/rising?

As of 19-Sep, Mercury EV-Tech Ltd's stock price is currently at 51.01, reflecting a decrease of 0.11, or 0.22%. The stock has experienced a trend reversal, falling after two consecutive days of gains. Despite this recent decline, the stock has shown a positive performance over the past week and month, with returns of 6.87% and 11.96%, respectively. However, it has significantly underperformed over the year, with a decline of 51.97%. The company has demonstrated healthy long-term growth, with net sales increasing by 123.69% annually and operating profit rising by 84.22%. Nevertheless, the high Debt to EBITDA ratio of 9.32 times and a low return on equity of 2.73% indicate challenges in servicing debt and profitability, which may contribute to the stock's recent price movement.
In the broader market context, while the Sensex has generated a modest return of 0.88% over the past week, Mercury EV-Tech's performance has outpaced this benchmark. However, the stock's year-to-date performance is concerning, with a decline of 43.35% compared to the Sensex's gain of 5.74%. The lack of domestic mutual fund investment, holding only 0% of the company, suggests a lack of confidence among institutional investors, which could further impact the stock's price. Overall, despite some positive indicators in terms of sales growth and recent investor participation, the company's financial challenges and significant underperformance relative to the market are likely influencing the stock's current downward movement.