Why is Nitco falling/rising?

As of 24-Sep, Nitco Ltd's stock price is currently at 115.80, experiencing a decline of 0.3, or 0.26%. The stock has underperformed its sector by 1.62% today and has been on a consecutive downward trend for the last two days, with a total drop of 1.49%. Despite a significant growth in operating profit and net sales in the previous quarter, the stock has shown a negative performance over the past month, down 7.51%, and a year-to-date decline of 8.49%. Additionally, the stock's liquidity has decreased, with delivery volume falling by 71.76% against the 5-day average. The high percentage of pledged promoter shares (87.75%) adds to the stock's risk, especially in a declining market, contributing to the downward pressure on its price.
In the broader market context, while the Sensex has experienced a slight decline of 1.18% over the past week, Nitco's stock has managed to gain 1.76% in the same timeframe. However, the stock's long-term fundamentals appear weak, with an average Return on Capital Employed (ROCE) of 0% and a concerning debt-to-EBITDA ratio. Despite outperforming the broader market with a 34.67% return over the past year, the stock's profits have decreased by 8.4%, indicating a troubling trend that may deter investors. Overall, the combination of weak investor participation, high pledged shares, and negative operating profits suggests a challenging environment for Nitco Ltd, contributing to its recent price decline.