Why is Vipul Ltd falling/rising?

As of 22-Jul, Vipul Ltd's stock price is currently at Rs 9.87, reflecting a decrease of Rs 0.16 or 1.6%. The stock has shown a significant decline over various periods, with a 1-week return of -4.08% and a 1-month return of -13.04%. Notably, it is trading below all its moving averages, indicating a bearish trend. The company has reported negative financial results for the last two consecutive quarters, with net sales dropping by 71.22% and a substantial fall in profit before tax and profit after tax. Additionally, the high debt-to-EBITDA ratio of 6.35 times and the fact that 30.71% of promoter shares are pledged contribute to a perception of increased risk, further pressuring the stock price downward.
In the broader market context, Vipul Ltd has underperformed compared to the Sensex, which has shown a slight decline of only 0.47% over the same 1-week period. The stark contrast in performance is evident as Vipul Ltd has generated a return of -78.21% over the past year, while the Sensex has increased by 2.09%. This underperformance is compounded by a significant drop in investor participation, with delivery volume falling by 52.32% against the 5-day average, indicating waning interest in the stock. Overall, the combination of poor financial performance, high debt levels, and negative market sentiment has led to the stock's continued decline.