Why is Bajaj Hindusthan falling/rising?

As of 13-Aug, Bajaj Hindusthan Sugar Ltd is experiencing a decline in its stock price, currently at 22.08, reflecting a decrease of 0.58 or 2.56%. The stock has underperformed its sector by 2% today and has been on a downward trend for the last two days, with a total decline of 4.95% during this period. Over the past week, the stock has fallen by 3.16%, and in the last month, it has seen a significant drop of 20.20%. Despite a rise in investor participation, with delivery volume increasing by 34.32% against the 5-day average, the stock is trading below all its moving averages, indicating persistent weakness. The company's financial health is concerning, with operating losses and a high debt-to-EBITDA ratio contributing to a negative return on equity, which further pressures the stock price.
In the broader market context, Bajaj Hindusthan has significantly underperformed compared to the benchmark, with a one-year return of -45.36% against the BSE500's decline of only -0.64%. This stark contrast highlights the company's struggles relative to the market. The stock's weak long-term fundamentals, including a high level of pledged promoter shares and substantial operating losses, add to the downward pressure on its price. While the company has reported an increase in profits over the past year, the overall financial instability and poor market performance suggest that investors remain cautious, leading to the stock's continued decline.