Why is Nagarjuna Fert. falling/rising?

As of 19-Aug, Nagarjuna Fertilizers & Chemicals Ltd is experiencing a decline in its stock price, currently at 5.94, reflecting a decrease of 0.01, or 0.17%. The stock has underperformed its sector by 0.74% today and has been on a consecutive downward trend for the last two days, resulting in a total return of -1%. Over the past week, the stock has decreased by 1.00%, and its year-to-date performance shows a significant drop of 36.67%. The company is facing serious challenges, including a negative book value and a high Debt to EBITDA ratio of 6.80 times, indicating a weak long-term fundamental strength. Additionally, the company has reported losses, with a PAT of Rs -6.26 crore, and a negative net worth, which raises concerns for investors about its ability to sustain operations without raising fresh capital or reporting profits.
In the broader market context, the stock's performance has been notably poor compared to the benchmark, with a one-year return of -44.28% against the Sensex's gain of 1.52%. This stark contrast highlights the company's struggles, particularly as it has underperformed even in a generally negative market environment, where the BSE500 index saw a decline of only -0.91% over the same period. The presence of pledged promoter shares, which account for 37.41%, adds further downward pressure on the stock, especially in a falling market. Overall, the combination of weak financial fundamentals, poor recent performance, and high levels of pledged shares contribute to the stock's ongoing decline.