Why is Swarnsarita Jewel falling/rising?

As of 23-Jun, Swarnsarita Jewels India Ltd is experiencing a decline in its stock price, currently at 30.10, reflecting a decrease of 0.86 or 2.78%. The stock has underperformed its sector by 2.44% today and is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Over the past week, the stock has fallen by 4.41%, and its performance over the last month shows a significant decline of 18.36%. Additionally, the company has reported operating losses, with a net sales drop of 18.5% compared to the previous quarter's average, and a high debt to EBITDA ratio of 7.12 times, indicating weak long-term fundamental strength. The pledged shares by promoters, which account for 57.66%, further exacerbate the downward pressure on the stock price in a falling market.
In the broader market context, while the Sensex has shown a slight increase of 0.12% over the past week, Swarnsarita Jewels has significantly lagged behind, highlighting its struggles in comparison to the benchmark. The company's year-to-date performance shows a decline of 26.59%, contrasting sharply with the Sensex's gain of 4.81%. This disparity indicates that investor sentiment towards Swarnsarita Jewels is weak, likely due to its poor financial metrics and declining sales, which are not aligned with the overall market trend.