Why is Royal India Corp falling/rising?

As of 24-Sep, Royal India Corporation Ltd is experiencing a decline in its stock price, currently at 7.45, reflecting a decrease of 0.39 or 4.97%. The stock has underperformed its sector by 4.78% today and has been on a downward trend for the last two days, accumulating a total loss of 5.1% in that period. Despite showing a positive return of 2.76% over the past week, the stock has significantly underperformed over the past month and year, with returns of -0.93% and -82.17%, respectively. The company has reported strong financial results in the last four quarters, with net sales growing by 885.81% and profit after tax increasing by 577.03%. However, the stock's high debt levels and weak long-term growth prospects, indicated by a debt-to-equity ratio of 9.77 times and a low return on equity of 2.90%, contribute to its negative performance.
In the broader market context, while the BSE500 index has seen a negative return of -5.32% over the past year, Royal India Corporation's stock has significantly lagged, with a staggering decline of 82.17%. This stark contrast highlights the company's struggles compared to the overall market. The stock's liquidity remains adequate for trading, but a notable drop in investor participation, with delivery volume falling by 47.09% against the five-day average, suggests waning interest among investors. Overall, the combination of high debt, poor long-term growth, and recent underperformance relative to both the sector and the market contributes to the stock's current downward trajectory.