Why is Shalimar Wires falling/rising?

As of 28-Jul, Shalimar Wires Industries Ltd is experiencing a decline in its stock price, currently at Rs 21.03, which represents a decrease of 1.64 (-7.23%). The stock has been underperforming, having fallen consecutively for the last three days, resulting in an overall drop of 8.37% during this period. It has also underperformed its sector by 5.25% today. The stock's performance over the past year shows a significant decline of 14.48%, while its profits have risen by 249%, indicating a disconnect between profitability and stock performance. Additionally, the company has a high debt level, with a Debt to Equity ratio that raises concerns about its long-term financial strength, further contributing to the stock's downward pressure.
In the broader market context, Shalimar Wires has underperformed compared to the benchmark Sensex, which has seen a decline of 1.59% over the past week and 3.77% over the past month, while Shalimar's stock has dropped by 0.19% and 1.68%, respectively. This trend highlights the stock's weaker performance relative to the market. The company's high volatility, with an intraday volatility of 6.57%, and falling investor participation, as evidenced by a 40.25% drop in delivery volume, suggest a lack of confidence among investors. The pledged shares of promoters, which account for 45.08%, add further pressure in a declining market, exacerbating the stock's challenges.