Why is Shalimar Wires falling/rising?

As of 22-Sep, Shalimar Wires Industries Ltd is experiencing a price increase, currently trading at 20.94, which reflects a rise of 0.23 or 1.11%. The stock has shown a trend reversal, gaining after two consecutive days of decline. However, it has underperformed its sector by 0.53% today. The stock's recent performance over the last week and month shows gains of 1.50% and 2.70%, respectively, although it has a significant year-to-date decline of 9.74% and a one-year drop of 29.94%. Positive factors include strong operating profit metrics and a favorable PEG ratio, indicating attractive valuation despite high debt levels and pledged promoter shares, which may exert downward pressure on the stock.
Broader market context indicates that while Shalimar Wires has shown some short-term gains, it has underperformed the benchmark Sensex, which has increased by 0.46% over the past week and 1.05% over the past month. The company's long-term performance remains concerning, with a negative return of 29.94% over the last year compared to a slight decline in the Sensex. The high debt levels and weak long-term growth prospects further complicate the stock's outlook, suggesting that while there may be short-term upward movement, the overall sentiment remains cautious due to fundamental weaknesses.