Why is MIC Electronics falling/rising?

As of 28-Aug, MIC Electronics Ltd is currently priced at Rs 47.40, reflecting a decline of Rs 1.6 or 3.27%. The stock has been underperforming, having fallen consecutively for the last three days, resulting in a total drop of 5.86% during this period. It has also underperformed its sector by 2.23% today. The stock's performance over the past week shows a slight decline of 0.25%, while it has experienced a significant drop of 9.00% over the last month and a staggering 44.66% year-to-date. The company's fundamentals are weak, as indicated by a low Return on Capital Employed (ROCE) of 5.02% and a high Debt to EBITDA ratio of 3.45 times. Additionally, promoter confidence appears to be waning, with a 4.42% reduction in their stake over the previous quarter.
Broader market context indicates that while the BSE500 index has seen a negative return of 5.01% over the past year, MIC Electronics has significantly underperformed with a return of -44.66%. This stark contrast highlights the company's struggles relative to the broader market. The stock's liquidity remains adequate, but the falling investor participation, as evidenced by a 33.89% drop in delivery volume, suggests diminishing interest among investors. Overall, the combination of poor financial performance, declining promoter confidence, and underwhelming market returns contributes to the stock's downward trajectory.