Why is Shalimar Wires falling/rising?

As of 23-Sep, Shalimar Wires Industries Ltd is currently priced at 20.50, reflecting a decrease of 0.06 or 0.29%. The stock has been underperforming, having fallen consecutively for the last four days, resulting in a total decline of 4.56% during this period. Additionally, it is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. The stock's performance over the past year shows a significant decline of 31.64%, while it has also underperformed against the BSE500 in both the short and long term. Despite some positive financial indicators, such as a substantial increase in profits and a favorable PEG ratio, the company's high debt levels and weak long-term growth prospects contribute to its negative price movement.
In the broader market context, Shalimar Wires has underperformed the Sensex, which has seen a slight decline of 0.34% over the past week, while Shalimar Wires itself has dropped by 2.38%. This suggests that the stock's struggles are not solely due to market conditions but also reflect company-specific challenges. The high debt-to-equity ratio and the fact that 45.08% of promoter shares are pledged add to the downward pressure on the stock, particularly in a falling market. Overall, the combination of poor recent performance, high debt, and underwhelming long-term growth prospects are key factors driving the stock's decline.