Why is Kanoria Chem. falling/rising?

As of 25-Jul, Kanoria Chemicals & Industries Ltd is experiencing a decline in its stock price, currently at Rs 89.00, reflecting a decrease of 4.97 points or 5.29%. The stock has underperformed its sector by 3.99% today, opening with a loss of 3.64% and reaching an intraday low of Rs 87.9, which is a 6.46% drop. Over the past week, the stock has decreased by 5.22%, and it has shown a significant decline of 21.38% year-to-date, indicating a troubling trend. The company's fundamentals are weak, with a negative operating profit and a high debt-to-EBITDA ratio of 9.38 times, which raises concerns about its ability to service debt. Additionally, 29.57% of promoter shares are pledged, which can exert further downward pressure on the stock price in a declining market.
In the broader market context, the Sensex has only declined by 0.36% over the past week, highlighting that Kanoria Chemicals is underperforming relative to the benchmark. The stock's performance has been consistently poor, with a return of -28.51% over the past year compared to the Sensex's gain of 1.78%. This consistent underperformance, coupled with a significant drop in investor participation—evidenced by a 40.91% decrease in delivery volume—suggests a lack of confidence among investors. Overall, the combination of weak financial metrics, high debt levels, and negative market sentiment contributes to the stock's current downward trajectory.