Why is MIC Electronics falling/rising?

As of 31-Jul, MIC Electronics Ltd is experiencing a decline in its stock price, currently at Rs 51.59, which reflects a decrease of Rs 1.11 or 2.11%. The stock has underperformed its sector by 1.81% today and is trading close to its 52-week low, just 4.05% above Rs 49.5. Over the past week, the stock has fallen by 3.77%, and its year-to-date performance shows a significant drop of 39.10%. The company's weak long-term fundamentals, highlighted by a low Return on Capital Employed (ROCE) of 5.02% and a high Debt to EBITDA ratio of 3.45, contribute to investor concerns. Additionally, the promoters have reduced their stake by 4.42%, indicating a lack of confidence in the company's future prospects.
In the broader market context, while the Sensex has decreased by 1.22% over the past week, MIC Electronics' decline is notably steeper, suggesting that it is not only underperforming its sector but also the market as a whole. The stock's performance over the last year shows a staggering drop of 39.39%, compared to the BSE500's decline of only 3.20%. This significant disparity underscores the challenges facing MIC Electronics, including negative earnings results and decreasing promoter confidence, which have collectively led to a lack of investor interest and a downward trend in its stock price.