Why is Sadhana Nitro falling/rising?

As of 07-Jul, Sadhana Nitro Chem Ltd is experiencing a decline in its stock price, currently at Rs. 7.03, which represents a decrease of 0.36 or 4.87%. 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 staggering 65.62% decline over that period. Additionally, the stock has underperformed its sector by 4.62%. Despite reporting a growth in net profit of 58.91% and having a very attractive valuation with a PEG ratio of 0.4, the company faces significant challenges, including weak long-term fundamental strength and a high debt to EBITDA ratio of 5.35 times. The proportion of pledged promoter shares has also increased, contributing to downward pressure on the stock price.
In the broader market context, Sadhana Nitro's performance has been significantly worse than the benchmark, with a 1-week return of -22.32% compared to the Sensex's slight decline of 0.20%. Over the past year, while the stock has generated a return of -86.93%, the Sensex has seen a modest increase of 4.31%. This consistent underperformance against the benchmark over the last three years highlights the stock's struggles, further exacerbated by falling investor participation and liquidity issues. Overall, the combination of poor short-term performance, high levels of pledged shares, and weak long-term growth prospects are contributing to the stock's decline.