Why is Shalimar Paints falling/rising?

As of 25-Jul, Shalimar Paints Ltd. is experiencing a decline in its stock price, currently at Rs. 84.61, which reflects a decrease of Rs. 7.77 or 8.41%. The stock has hit a new 52-week low of Rs. 84.21 today and has underperformed its sector by 6.98%. Over the past week, the stock has fallen by 12.52%, and it has consistently lost value for the last seven days, resulting in a total decline of 13.73%. The company's operating losses and weak long-term fundamentals, including a negative EBITDA and a poor EBIT to Interest ratio, contribute to the stock's downward trend. Additionally, 57.68% of promoter shares are pledged, which adds further pressure in a declining market.
In the broader market context, Shalimar Paints has significantly underperformed against the benchmark, with a year-to-date return of -33.46% compared to the Sensex's gain of 4.25%. The stock's performance over the last three years shows a consistent underperformance, with a return of -48.31% against the benchmark's 46.08% gain. This stark contrast highlights the challenges faced by Shalimar Paints, particularly in light of its weak financial metrics and high volatility, which have led to a lack of investor confidence.