Why is Panyam Cement falling/rising?

As of 12-Aug, Panyam Cements & Mineral Industries Ltd is experiencing a decline in its stock price, currently at Rs 135.40, reflecting a decrease of Rs 5.6 or 3.97%. The stock has underperformed its sector by 3.98% today and has been on a consecutive downward trend for the last two days, resulting in a total decline of 7.89%. Over the past week, the stock has fallen by 9.61%, and its year-to-date performance shows a significant drop of 28.74%. The company has not declared results in the last six months, indicating weak long-term fundamental strength, and its negative financial performance, including a PAT of Rs -39.46 crore and a decline in net sales, further contributes to the stock's downward movement.
In the broader market context, the stock's performance contrasts sharply with the benchmark, as the Sensex has only declined by 0.59% over the past week. While the market has shown a slight positive return of 2.68% year-to-date, Panyam Cements has significantly lagged behind with a year-to-date drop of 28.74%. The company's high debt levels and negative EBITDA position it as a risky investment, which has likely contributed to investor hesitance and the stock's continued decline. Overall, the combination of poor financial results, weak growth prospects, and underperformance relative to the market has led to the stock's current downward trajectory.