Why is Shalimar Paints falling/rising?

As of 24-Jul, Shalimar Paints Ltd. is experiencing a decline in its stock price, currently at Rs 92.38, which reflects a decrease of Rs 2.15 or 2.27%. The stock has been underperforming, having fallen consecutively for the last six days, resulting in a total decline of 5.81% during this period. It is also trading close to its 52-week low, just 1.11% above Rs 91.35. The stock's performance over various time frames shows significant underperformance compared to the benchmark, with a year-to-date return of -27.35% against a positive 5.18% for the Sensex. The company's weak long-term fundamentals, highlighted by operating losses and a negative EBITDA, contribute to its declining stock price. Additionally, 57.68% of promoter shares are pledged, which adds downward pressure in a falling market.
In the broader market context, the stock's short-term performance has been notably worse than the benchmark, with a 1-week return of -5.36% compared to a negligible -0.09% for the Sensex. This consistent underperformance over the last three years, coupled with poor financial metrics such as a high debt-equity ratio and weak ability to service debt, indicates a challenging environment for Shalimar Paints. The rising investor participation, as evidenced by a significant increase in delivery volume, suggests some interest in the stock, but the overall negative sentiment driven by its financial struggles and market conditions continues to weigh heavily on its price.