Why is Nitco falling/rising?

As of 25-Aug, Nitco Ltd's stock price is currently at 123.25, reflecting a decrease of 1.95, or 1.56%. The stock has been underperforming, having fallen consecutively for the last three days, resulting in a total decline of 4.16% during this period. Additionally, it is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Despite a significant growth in operating profit and net sales in the last quarter, the stock's long-term fundamentals appear weak, with a poor average return on capital employed and a high debt-to-EBITDA ratio. Furthermore, the high percentage of pledged promoter shares adds to the risk, potentially exerting downward pressure on the stock price.
In the broader market context, Nitco's recent performance contrasts sharply with the benchmark, as it has underperformed the Sensex, which has gained 0.45% over the past week while Nitco has declined by 7.68%. The stock's year-to-date performance shows a decline of 2.61%, while the Sensex has increased by 4.48%. This disparity highlights the challenges faced by Nitco in a market that is otherwise showing positive momentum. The significant drop in investor participation, with delivery volume falling by nearly 80%, further indicates a lack of confidence among investors, contributing to the stock's downward trajectory.