Why is Panyam Cement falling/rising?

As of 29-Sep, Panyam Cements & Mineral Industries Ltd is experiencing a decline in its stock price, currently at Rs 129.25, which represents a decrease of Rs 5.1 or 3.8%. The stock has underperformed its sector by 3.72% today, reaching an intraday low of Rs 127.65. Additionally, the stock has shown a significant decline over various periods, with a 1-week return of -8.07% and a year-to-date return of -31.97%. The company has not declared results in the last six months, contributing to weak long-term fundamentals, including a negative EBITDA and a high debt-to-equity ratio. The recent negative performance, including a PAT of Rs -39.46 crore and a drop in net sales, has further pressured the stock.
In the broader market context, Panyam Cements has consistently underperformed against the benchmark, with a 1-year return of -19.40% compared to the BSE500's -6.08%. This underperformance is evident over the last three years, where the stock has failed to generate positive returns, contrasting sharply with the benchmark's 42.47% gain. The stock's liquidity is also a concern, as evidenced by a significant drop in delivery volume, indicating reduced investor participation. Overall, the combination of weak financial performance, high debt, and consistent underperformance against market benchmarks has contributed to the stock's downward movement.