Why is Sigachi Indust. falling/rising?

As of 18-Nov, Sigachi Industries Ltd is experiencing a decline in its stock price, currently at 35.18, which represents a decrease of 0.6 or 1.68%. The stock has underperformed its sector by 1.06% today and has fallen after two consecutive days of gains. It is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Additionally, the stock has shown poor performance over the past week, month, and year, with returns of -1.54%, -8.41%, and -29.77%, respectively. The company's financial health is concerning, as it reported a significant drop in net sales and profits, with a PAT decline of 68.7% compared to the previous quarter's average. Furthermore, a high debt-equity ratio and a substantial percentage of pledged promoter shares add to the downward pressure on the stock.
In the broader market context, while the Sensex has gained 0.96% over the past week and 8.36% year-to-date, Sigachi Industries has notably underperformed, with a year-to-date decline of 29.64%. This stark contrast highlights the stock's struggles relative to the overall market performance. The company's ability to service its debt is relatively strong, but the negative growth in operating profit and net sales, coupled with a low return on capital employed, paints a bleak picture for its future prospects. As a result, investor confidence appears to be waning, contributing to the stock's current downward trajectory.