Why is Shalimar Paints falling/rising?

As of 01-Aug, Shalimar Paints Ltd. is experiencing a decline in its stock price, currently at Rs. 78.60, which reflects a decrease of 3.42 (-4.17%). The stock has hit a new 52-week low of Rs. 78.06 today and has underperformed its sector by 5.17%. Over the past week, the stock has decreased by 7.10%, and it has shown a significant decline of 19.54% over the past month. The company is facing operational challenges, including negative EBITDA and a weak ability to service its debt, which has contributed to its poor long-term growth, evidenced by an annual operating profit decline of 18.16% over the last five years. Additionally, 57.68% of promoter shares are pledged, which adds downward pressure in a falling market.
In the broader market context, Shalimar Paints has consistently underperformed against the benchmark, with a one-year return of -47.16% compared to a -1.55% return for the Sensex. The stock's performance has been particularly poor over the last three years, where it has underperformed the BSE500 in each annual period. This consistent underperformance, coupled with a significant drop in investor participation and liquidity, indicates a lack of confidence among investors, further exacerbating the stock's decline.