Why is Walchan. Inds. falling/rising?

As of 07-Jul, Walchandnagar Industries Ltd is experiencing a decline in its stock price, currently at Rs 215.70, reflecting a decrease of Rs 9.3 or 4.13%. The stock has underperformed its sector by 3.88% today and has been on a consecutive downward trend for the last two days, with a total decline of 4.56% during this period. Key financial indicators reveal that the company is facing significant challenges, including a 28.6% drop in net sales and a staggering 496.9% fall in profit after tax compared to the previous quarter averages. Additionally, the company has reported operating losses and a high debt-to-EBITDA ratio of 44.09 times, which raises concerns about its ability to service debt. The stock's performance over the past year has been particularly poor, with a return of -27.98%, indicating a substantial underperformance relative to the broader market.
In the broader market context, the stock's short-term performance has been notably worse than the benchmark, with a 1-week return of -4.32% compared to the Sensex's slight decline of only 0.20%. Despite a strong historical performance over three and five years, the recent financial difficulties and the high percentage of pledged promoter shares (49.2%) contribute to the stock's downward pressure in a falling market. The overall market has generated positive returns of 1.74% over the last year, further highlighting the significant underperformance of Walchandnagar Industries Ltd in this timeframe.