Why is Narmada Agrobase falling/rising?

As of 10-Jul, Narmada Agrobase Ltd's stock price is currently at 17.66, reflecting a decrease of 0.09 or 0.51%. The stock has been experiencing a decline, having fallen for the last two consecutive days with a total return of -1.89% during this period. Despite this recent downturn, the stock has shown a positive performance over the past month, gaining 6.26%. The company has reported positive results over the last five consecutive quarters, with a significant growth in profit after tax and net sales. However, it faces challenges such as a high debt to EBITDA ratio and a relatively low return on equity, which may contribute to investor caution.
In the broader market context, Narmada Agrobase's short-term performance has underperformed compared to the benchmark, with a -2.11% return over the past week against a minimal decline of 0.06% in the Sensex. While the stock has seen increased participation from institutional investors, which could indicate confidence in its fundamentals, its long-term performance remains weak, with a -27.77% return over the past year. This consistent underperformance against the benchmark and the company's high debt levels may be causing investors to reassess their positions, contributing to the stock's recent decline.