Why is Shalimar Paints falling/rising?

As of 29-Aug, Shalimar Paints Ltd. is experiencing a decline in its stock price, currently at Rs 71.40, reflecting a decrease of 1.46 (-2.0%). The stock has been underperforming, having fallen consecutively for the last two days, with a total decline of 3.7% during this period. It is also trading close to its 52-week low, just 1.93% away from Rs 70.02. Over the past week, the stock has decreased by 2.41%, and its performance over the last month shows a significant drop of 13.61%. The company's long-term fundamentals appear weak, with operating losses and a negative EBITDA, further compounded by a high debt-equity ratio and a low debtors turnover ratio. 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 year-to-date return of -43.85% compared to a positive return of 2.14% for the Sensex. The stock's performance over the last three years has also been disappointing, generating -55.65% returns while the benchmark has risen by 37.67%. This consistent underperformance, combined with falling investor participation and liquidity concerns, indicates a challenging environment for the stock, contributing to its current decline.