Why is Rajnandini Metal falling/rising?

As of 22-Aug, Rajnandini Metal Ltd's stock price is currently at 4.52, reflecting a decrease of 0.04 or 0.88%. The stock's performance today is in line with its sector, although it is trading higher than its 5-day moving average but lower than its 20-day, 50-day, 100-day, and 200-day moving averages. Over the past week, the stock has seen a return of +2.03%, but it has significantly underperformed in the longer term, with a year-to-date decline of -48.64% and a staggering -63.98% drop over the past year. The company is facing challenges, including a high Debt to EBITDA ratio of 4.78 times, indicating a low ability to service debt, and a concerning trend of negative operating profits. Additionally, the company has reported negative results for the last six consecutive quarters, with net sales falling by -64.57%.
In the broader market context, while the Sensex has shown a modest gain of +0.97% over the past week, Rajnandini Metal's recent performance contrasts sharply with this benchmark. The stock's long-term performance has been particularly poor, with a decline of -85.74% over the past three years compared to a +42.19% increase in the benchmark. This underperformance, combined with a significant drop in net profit and operating profit growth, suggests that investor confidence is waning, contributing to the stock's downward movement. The overall market sentiment appears to be cautious, particularly for stocks like Rajnandini Metal that are struggling with fundamental financial issues.