Why is Nahar Spinning falling/rising?

As of 26-Aug, Nahar Spinning Mills Ltd is experiencing a decline in its stock price, currently at Rs 209.15, which represents a decrease of 6.1 points or 2.83%. Today's price summary indicates that the stock has underperformed its sector by 0.26%, with an intraday high of Rs 220.05 and a low of Rs 209. The stock is trading below its moving averages across various time frames, which suggests a bearish trend. Over the past week, the stock has fallen by 4.19%, and it has shown a significant decline of 33.97% over the past year, indicating consistent underperformance against the benchmark indices. While the company reported positive results in June, including a 113.33% growth in profit before tax, its high debt-to-EBITDA ratio of 6.13 times raises concerns about its ability to service debt, contributing to the stock's downward pressure.
In the broader market context, the Sensex has only decreased by 1.05% over the past week, highlighting that Nahar Spinning's short-term performance is significantly worse than the overall market. The textile sector has also seen a decline of 2.54%, which may be influencing the stock's performance. Despite the company's attractive valuation and a PEG ratio of 0.2, the persistent underperformance against benchmarks and low profitability per unit of shareholder funds suggest that investor sentiment remains negative. The falling investor participation, with a 53.73% drop in delivery volume, further indicates a lack of confidence in the stock, reinforcing its current downward trajectory.