Why is Sadhana Nitro falling/rising?

As of 27-Jun, Sadhana Nitro Chem Ltd's stock price is currently at Rs. 9.52, reflecting a decrease of Rs. 0.5 or 4.99%. The stock has hit a new 52-week low today and has been on a consecutive decline for the last 19 days, resulting in a significant drop of 54.67% during this period. In terms of performance against the benchmark, the stock has underperformed considerably, with a 1-week return of -22.48% compared to a 2.00% increase in the Sensex, and a staggering -76.40% year-to-date return versus a 7.58% gain in the broader market. Despite a reported growth in net profit of 58.91% and attractive valuation metrics, the stock's long-term fundamentals are weak, evidenced by a low average return on capital employed (ROCE) of 5.37% and a high debt-to-EBITDA ratio of 5.35 times, which raises concerns about its ability to service debt.
In the broader market context, the stock's consistent underperformance against the benchmark over the last three years is notable, with a return of -82.18% in the past year alone. This underperformance is compounded by the fact that 52.67% of promoter shares are pledged, which tends to exert additional downward pressure on stock prices in a declining market. The falling investor participation, indicated by a 37.1% drop in delivery volume against the 5-day average, further suggests a lack of confidence among investors. Overall, while there are some positive indicators regarding the company's profitability, the prevailing negative factors and market conditions are driving the stock's price down.