Why is Sadhana Nitro falling/rising?

As of 01-Jul, Sadhana Nitro Chem Ltd is experiencing a decline in its stock price, currently at Rs. 8.60, reflecting a decrease of Rs. 0.45 or 4.97%. The stock has hit a new 52-week low today and has been on a consecutive downward trend for the last 21 days, resulting in a significant drop of 59.05% during this period. Additionally, the stock has underperformed its sector by 3.69%. Over the past year, Sadhana Nitro has generated a return of -83.97%, and its performance has consistently lagged behind the benchmark indices, with a stark decline of 89.98% over the last three years. While the company reported a growth in net profit of 58.91% and has attractive valuations, its weak long-term fundamentals, including a low return on capital employed and a high debt-to-EBITDA ratio, contribute to the negative sentiment surrounding the stock.
In the broader market context, Sadhana Nitro's short-term performance contrasts sharply with the Sensex, which has increased by 2.00% over the past week. This underperformance is indicative of the stock's struggles, particularly in a rising market environment. The high percentage of pledged promoter shares, which has increased by 28.99% over the last quarter, further exacerbates the downward pressure on the stock price, especially in a falling market. Overall, the combination of poor recent performance, weak fundamentals, and declining investor participation paints a concerning picture for Sadhana Nitro Chem Ltd's stock.