Why is Nitco falling/rising?

As of 31-Oct, Nitco Ltd's stock price is currently at Rs 108.40, reflecting a decrease of Rs 2.1 or 1.9%. The stock has underperformed its sector today by 1.53%, touching an intraday low of Rs 108.25. Over the past week, the stock has declined by 1.72%, and its performance over the last month shows a significant drop of 4.75%. Despite a remarkable growth in operating profit of 1214.11% and a strong net sales increase of 91.1% in the last quarter, the stock's long-term fundamentals are weak, with a return on capital employed (ROCE) averaging 0% and a concerning debt to EBITDA ratio of -1.00 times. Additionally, 87.75% of promoter shares are pledged, which adds downward pressure on the stock in a falling market.
In the broader market context, the Sensex has shown resilience with a gain of 3.65% over the past month, contrasting sharply with Nitco's decline. The stock has underperformed the market significantly over the last year, generating a return of -10.49% compared to the benchmark's positive return of 4.13%. This underperformance, combined with falling investor participation and the stock trading below all key moving averages, indicates a lack of confidence among investors, further contributing to the stock's downward trajectory.