Why is Nectar Lifesci. falling/rising?

As of 01-Oct, Nectar Lifescience Ltd is experiencing a decline in its stock price, currently at 14.21, which reflects a decrease of 0.29 or 2.0%. The stock has underperformed its sector by 3.36% today and has been on a consecutive downward trend for the last two days, resulting in a total drop of 3.33% during this period. Over the past week, the stock has fallen by 5.96%, and its year-to-date performance shows a significant decline of 63.56%. The company is trading below all its moving averages, indicating a bearish trend, and there has been a notable drop in investor participation, with delivery volume falling by 86.81% compared to the five-day average. Additionally, the company's financial health is concerning, with operating losses and a high debt-to-EBITDA ratio of 7.73 times, which severely limits its ability to service debt.
In the broader market context, the stock's performance contrasts sharply with the Sensex, which has shown a slight increase of 0.77% over the past month. While the Sensex has gained 3.64% year-to-date, Nectar Lifescience's staggering decline of 63.56% highlights its underperformance relative to the market. The company's negative results, including a significant drop in profit before tax and a return on capital employed at a low of -5.65%, further exacerbate investor concerns. The fact that 99.6% of promoter shares are pledged adds additional downward pressure on the stock, particularly in a declining market. Overall, the combination of poor financial results, high debt levels, and weak market sentiment has contributed to the stock's recent decline.