Why is Nitco falling/rising?

As of 08-Jul, Nitco Ltd's stock price is currently at Rs 149.90, reflecting a decline of Rs 3.7 or 2.41%. The stock has been underperforming recently, having fallen for four consecutive days, resulting in a total drop of 6.75% during this period. Today's trading saw the stock reach an intraday low of Rs 148, and the volume traded was significantly lower than the average, indicating a decrease in investor participation. Despite a strong long-term performance with a 97.24% return over the past year, the company faces challenges such as operating losses, a high debt-to-EBITDA ratio, and a concerning trend of negative EBITDA, which contribute to its recent price decline.
In the broader market context, while the Sensex has shown a slight increase of 0.02% over the past week, Nitco's stock has decreased by 1.48% in the same timeframe, indicating a clear underperformance relative to the benchmark. The company's long-term growth prospects appear weak, with net sales declining at an annual rate of 7.37% and operating profit significantly negative over the last five years. Additionally, the high percentage of pledged promoter shares adds further risk, especially in a falling market, which can exert additional downward pressure on the stock price.