Why is Nelcast falling/rising?

As of 08-Oct, Nelcast Ltd. is experiencing a decline in its stock price, currently at Rs 121.30, reflecting a decrease of Rs 3.8 or 3.04%. The stock has underperformed its sector by 1.9% today, reaching an intraday low of Rs 120.45. It is trading below all key moving averages, indicating a bearish trend. Over the past week, the stock has dropped by 4.22%, and its year-to-date performance shows a slight decline of 0.74%. Despite a healthy long-term growth rate in operating profit of 55.64% and positive quarterly results, the stock's recent performance is hindered by a high Debt to EBITDA ratio of 3.09 times, which raises concerns about its ability to service debt and reflects low profitability per unit of shareholders' funds.
In the broader market context, the Sensex has gained 0.98% over the past week, contrasting with Nelcast's decline. This underperformance relative to the benchmark suggests that investor sentiment may be shifting away from Nelcast, particularly as domestic mutual funds hold no stake in the company, indicating a lack of confidence in its current valuation. The stock's negative returns over the past month (-17.76%) and year (-3.35%) further highlight its struggles compared to the Sensex, which has shown a positive return of 1.22% and 0.17% respectively. Overall, the combination of high debt levels, low investor participation, and poor short-term performance relative to the market contributes to the downward pressure on Nelcast's stock price.