Why is NELCO falling/rising?

As of 22-Sep, NELCO Ltd's stock price is currently at 879.40, reflecting a decline of 32.9 points or 3.61%. The stock has underperformed its sector by 2.92% today and has experienced a trend reversal after three consecutive days of gains. It touched an intraday low of Rs 876, indicating a significant drop of 3.98%. Over the past week, the stock has shown a return of +3.92%, but it has a year-to-date decline of -30.48%. The company's financial health is concerning, as it has reported negative results for the last two consecutive quarters, with a substantial fall in profit before tax (PBT) and operating cash flow. Additionally, the stock's valuation appears expensive relative to its return on capital employed (ROCE) and has consistently underperformed against benchmarks over the last three years.
In the broader market context, while the Sensex has shown a modest gain of 0.46% over the past week, NELCO's performance has lagged behind, indicating a lack of investor confidence. The stock's recent decline, coupled with falling investor participation and low domestic mutual fund holdings, suggests that market sentiment is cautious. Despite a strong ability to service debt, the company's poor long-term growth prospects and significant profit declines have contributed to its underperformance. Overall, the combination of negative financial results and a lack of support from institutional investors has led to the stock's current downward trajectory.