Why is Kanoria Chem. falling/rising?

As of 16-Sep, Kanoria Chemicals & Industries Ltd is experiencing a decline in its stock price, currently at Rs 82.50, which represents a decrease of 3.18 or 3.71%. The stock has underperformed its sector by 4.21% today, touching an intraday low of Rs 82.50. It is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Additionally, there has been a significant drop in investor participation, with delivery volume falling by 30% compared to the 5-day average. Over the past year, the stock has generated a return of -52.03%, and its long-term fundamentals are weak, characterized by a low Return on Capital Employed (ROCE) of 1.14% and a high Debt to EBITDA ratio of 9.38 times. The high percentage of pledged promoter shares (29.57%) further exacerbates the downward pressure on the stock.
In the broader market context, the stock's performance has been notably poor compared to the benchmark, with a 1-week return of -2.98% against the Sensex's gain of 1.58%. Over the last three years, Kanoria Chemicals has consistently underperformed the BSE500, which has seen a return of +40.01%. This consistent underperformance, coupled with negative operating profits and flat results in recent quarters, highlights the company's struggles in a rising market environment. The overall market sentiment appears to be unfavorable for Kanoria Chemicals, contributing to its declining stock price.