Why is Rajshree Sugars falling/rising?

As of 08-Sep, Rajshree Sugars & Chemicals Ltd is experiencing a decline in its stock price, currently at Rs 42.06, which represents a decrease of 2.14 (-4.84%). The stock has been underperforming, having fallen consecutively for the last three days, resulting in a total drop of 8.62% during this period. Today's trading saw the stock reach an intraday low of Rs 42.06, with a weighted average price indicating that more volume was traded closer to this low. The stock's performance over the past week shows a return of +11.27%, but it has significantly underperformed the sector by 3.42%. Additionally, the company's financial health is concerning, with operating losses, a high debt-to-equity ratio of 3.97, and a return on equity of only 1.65%, all contributing to its weak long-term fundamental strength.
In the broader market context, while the Sensex has shown a modest gain of 0.53% over the past week, Rajshree Sugars' performance has been notably poor, particularly with a year-to-date return of -26.21% compared to the Sensex's +3.39%. The stock's negative results in recent quarters, including a substantial drop in profit before tax and net sales, further exacerbate its downward trajectory. The high percentage of pledged promoter shares (99.86%) adds to the risk, particularly in a declining market, putting additional pressure on the stock price. Overall, the combination of weak financial performance, declining investor participation, and high leverage are key factors driving the stock's recent decline.