Why is Niraj Ispat Ind. falling/rising?

As of 28-Jul, Niraj Ispat Industries Ltd is experiencing a decline in its stock price, currently at Rs. 490.80, which reflects a decrease of 10.0 points or 2.0%. The stock has recently hit a new 52-week high of Rs. 554.9, indicating a strong performance earlier in the day. However, over the past week, the stock has underperformed with a return of -9.60%, contrasting with a positive return of +18.49% over the past month. Despite outperforming its sector by 5.74% today and trading above its moving averages, the stock faces challenges such as weak long-term fundamental strength, a declining delivery volume, and a poor EBIT to interest ratio, which may contribute to investor concerns.
In the broader market context, while the Sensex has seen a decline of -1.63% over the past week, Niraj Ispat's significant drop indicates a more pronounced weakness relative to the benchmark. The company's year-to-date return of +100.18% and a one-year return of +156.43% are impressive; however, these figures are juxtaposed against a backdrop of weak profitability metrics, including a low return on equity and a high enterprise value to capital employed ratio. This disparity suggests that despite past performance, investors may be cautious about the stock's future potential, leading to its current downward price movement.