Why is Sadhana Nitro falling/rising?

As of 04-Jul, Sadhana Nitro Chem Ltd's stock is currently priced at Rs. 7.39, reflecting a decline of -0.38 (-4.89%). The stock has hit a new 52-week low today and has been on a downward trend, having fallen for the last 21 consecutive days, resulting in a total decline of -63.99% during this period. Additionally, the stock has significantly underperformed its sector by -4.73%. Over the past year, Sadhana Nitro has generated a return of -86.16%, while its profits have risen by 85.8%. However, the company faces challenges, including a weak long-term fundamental strength indicated by a low average Return on Capital Employed (ROCE) of 5.37% and a high Debt to EBITDA ratio of 5.35 times. Furthermore, 52.67% of promoter shares are pledged, which adds downward pressure on the stock price in a declining market.
In the broader market context, Sadhana Nitro's performance has been notably poor compared to the benchmark, with a 1-week return of -22.37% against a slight decline of -0.74% for the Sensex. Over the last three years, the stock has consistently underperformed the benchmark, generating -91.38% returns compared to the Sensex's 56.73% gain. While there has been a significant increase in investor participation, as evidenced by a 14921.49% rise in delivery volume, the overall sentiment remains negative due to the company's long-term growth issues and high levels of pledged shares.