Why is Shalimar Wires falling/rising?

As of 03-Jul, Shalimar Wires Industries Ltd is experiencing a decline in its stock price, currently at 21.20, reflecting a decrease of 0.3 or 1.4%. The stock has underperformed its sector today by 0.97% and has been on a consecutive downward trend for the last three days, resulting in a total decline of 3.55%. Over the past year, the stock has generated a negative return of 11.85%, significantly underperforming the broader market, which has seen a return of 4.07%. Despite a substantial increase in profits by 249% over the same period, the stock's performance is hindered by high debt levels and weak long-term growth, with a low Return on Equity of 1.09%.
In the broader market context, the stock's recent performance contrasts sharply with the benchmark, as it has declined by 4.16% over the past month while the Sensex has gained 3.10%. The company's high debt levels, indicated by a poor Debt to Equity ratio, and the fact that 45.08% of promoter shares are pledged, contribute to downward pressure on the stock price, especially in a falling market. Although the stock is trading at a discount compared to its peers and has shown rising investor participation, these factors are overshadowed by its long-term fundamental weaknesses and recent poor performance relative to the market.