Why is Nitco falling/rising?

As of 08-Oct, Nitco Ltd's stock price is currently at 109.70, reflecting a decrease of 1.1 points or 0.99%. The stock has been underperforming, having fallen for three consecutive days, resulting in a total decline of 4.4% 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. The delivery volume has also decreased significantly, down 73.8% compared to the 5-day average, suggesting a lack of investor interest. While the company reported a remarkable growth in operating profit and net sales in June, the long-term fundamentals appear weak, with a negative annual growth rate in operating profit over the past five years and a concerning debt-to-EBITDA ratio. Furthermore, a high percentage of promoter shares being pledged adds to the stock's risk profile, contributing to the downward pressure on its price.
In the broader market context, Nitco's performance has been notably poor compared to the benchmark, with a 1-week return of -3.60% against the Sensex's positive return of +0.98%. Over the past month, the stock has declined by 10.56%, while the Sensex has gained 1.22%. Despite a strong performance over the past year, where Nitco generated a return of 29.62% compared to the Sensex's modest 0.17%, the recent trends indicate a significant divergence from the overall market. The negative sentiment surrounding the stock, driven by its weak long-term fundamentals and declining investor participation, is likely influencing its current downward trajectory.