Why is Sadhana Nitro falling/rising?

As of 30-Jun, Sadhana Nitro Chem Ltd is experiencing a decline in its stock price, currently at Rs. 9.05, which represents a decrease of 0.47 or 4.94%. The stock has hit a new 52-week low today and has been on a downward trend, losing value for the last 20 consecutive days, resulting in a staggering 56.9% decline over this period. In the past year, the stock has generated a return of -83.36%, significantly underperforming against the benchmark Sensex, which has increased by 5.79%. Although the company reported a growth in net profit of 58.91% and has a very attractive valuation with a PEG ratio of 0.5, the stock's performance is hindered by weak long-term fundamentals, including a low average return on capital employed (ROCE) of 5.37% and a high debt to EBITDA ratio of 5.35 times. Additionally, 52.67% of promoter shares are pledged, which adds downward pressure in a falling market.
In terms of broader market context, Sadhana Nitro's short-term performance has been significantly worse than the benchmark, with a 1-week return of -22.45% compared to the Sensex's increase of 2.09%. This consistent underperformance over the last three years, coupled with the high proportion of pledged shares, has contributed to investor sentiment turning negative. The stock's inability to service debt and the poor long-term growth prospects further exacerbate its challenges, leading to a lack of confidence among investors and resulting in the ongoing decline in its stock price.