Why is MIC Electronics falling/rising?

As of 24-Sep, MIC Electronics Ltd is experiencing a decline in its stock price, currently at Rs 61.11, reflecting a decrease of Rs 1.79 or 2.85%. The stock has been underperforming, having fallen consecutively for the last four days, resulting in a total drop of 9.89% during this period. Today's trading saw the stock reach a high of Rs 65.73 and a low of Rs 60.05, with more volume traded closer to the lower price. Over the past week, the stock has declined by 9.87%, while it has shown a significant increase of 21.37% over the past month. However, the stock's long-term performance remains concerning, with a year-to-date decline of 27.86% and a staggering 43.18% drop over the past year. 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 times, contribute to its negative outlook. Additionally, the promoters' reduced stake in the company by 4.42% signals a lack of confidence in its future prospects.
In the broader market context, MIC Electronics has significantly underperformed compared to the benchmark, with the BSE500 index showing a decline of only 5.32% over the past year. The stock's recent performance has been particularly poor, with a 9.87% drop in the last week compared to a mere 1.18% decline in the Sensex. This stark contrast indicates that investor sentiment towards MIC Electronics is notably negative, exacerbated by disappointing financial results and a decrease in promoter confidence. The stock's liquidity remains adequate for trading, but the overall market conditions and the company's financial health suggest that the downward trend may continue unless there are significant improvements in its fundamentals.