Why is Sadhana Nitro falling/rising?

As of 08-Jul, Sadhana Nitro Chem Ltd's stock price is currently at Rs. 6.68, reflecting a decrease of Rs. 0.35 or 4.98%. The stock has hit a new 52-week low today and has been on a consecutive decline for the past 21 days, resulting in a significant drop of 65.62% during this period. Additionally, the stock has underperformed its sector by 4.4%. Over the past year, Sadhana Nitro has generated a staggering return of -88.52%, while its performance against the benchmark Sensex has been consistently poor, with returns of -91.77% over the last three years. The company has shown some positive financial results, including a 58.91% growth in net profit, but this has not translated into stock performance, as the stock is trading below all its moving averages and has seen a drastic decline in investor participation, with delivery volume down by 95.95% compared to the five-day average.
In the broader market context, while the Sensex has shown a slight increase of 0.02% over the past week, Sadhana Nitro's stock has plummeted by 22.33% in the same timeframe, highlighting its significant underperformance. The company's weak long-term fundamentals, characterized by a low return on capital employed and high debt levels, further exacerbate its challenges. The fact that 52.67% of promoter shares are pledged adds additional downward pressure on the stock, especially in a falling market. Despite the attractive valuation metrics and recent profit growth, the persistent underperformance against benchmarks and the overall market sentiment contribute to the stock's declining price.