Why is Shalimar Paints falling/rising?

As of 01-Sep, Shalimar Paints Ltd. is currently priced at 71.61, reflecting a slight increase of 0.21 or 0.29%. Despite this minor uptick, the stock has shown significant underperformance in the past month, declining by 8.65%, and has been trading lower than its moving averages across various time frames. The stock is also close to its 52-week low, just 2.22% above Rs 70.02. The company faces serious challenges, including operating losses and a weak ability to service its debt, as indicated by a negative EBIT to Interest ratio. Additionally, 57.68% of promoter shares are pledged, which could exert further downward pressure on the stock in a declining market.
In the broader market context, Shalimar Paints has underperformed the benchmark, with a 1-week return of -1.23% compared to the Sensex's -1.56%. The paints sector has gained by 2%, indicating that the stock's struggles are not reflective of the overall industry performance. The company's long-term growth prospects appear weak, with a negative EBITDA and a poor debt-equity ratio, which contribute to its consistent underperformance against the benchmark over the last three years. Overall, while there is a slight increase in the stock price today, the underlying fundamentals and market conditions suggest a challenging environment for Shalimar Paints.