Why is Tulsyan NEC falling/rising?

As of 03-Nov, Tulsyan NEC Ltd's stock price is currently at Rs 44.65, reflecting a decline of Rs 2.35 or 5.0%. The stock has opened lower today, with a gap down of 2.02%, and has reached an intraday low of Rs 44.65. Over the past week, the stock has underperformed with a return of -2.43%, while the benchmark Sensex has only declined by 0.94%. Additionally, the stock has shown a significant negative trend over the past year, with a return of -38.58%, contrasting sharply with the Sensex's gain of 5.34%. The company has also reported weak long-term fundamentals, including a negative Return on Capital Employed (ROCE) and a high Debt to EBITDA ratio, which contribute to its poor performance.
Broader market context indicates that Tulsyan NEC's stock has underperformed the market significantly, particularly over the last year, where it has generated negative returns while the broader market has seen positive growth. The falling investor participation, evidenced by a 53.78% drop in delivery volume, further exacerbates the stock's decline. With 99.63% of promoter shares pledged, the stock faces additional downward pressure in a falling market, making it a risky investment. Overall, the combination of poor financial performance, negative operating profits, and high levels of pledged shares has led to the stock's current downward trajectory.