Why is Shalimar Paints falling/rising?

As of 10-Sep, Shalimar Paints Ltd. is experiencing a decline in its stock price, currently at Rs 73.57, reflecting a decrease of 0.15 (-0.2%). The stock has underperformed significantly, with a 1-week return of -1.60% and a 1-month return of -2.15%, while the benchmark Sensex has gained 1.06% and 1.96% respectively during the same periods. The stock is also close to its 52-week low, being only 4.83% away from Rs 70.02. Additionally, the stock has shown a trend reversal after two consecutive days of gains and has lower delivery volumes, indicating falling investor participation. The company's fundamentals are weak, with operating losses and a negative EBITDA, contributing to its poor long-term growth prospects and high debt levels, which further pressure the stock price.
In the broader market context, Shalimar Paints has consistently underperformed against the benchmark over the last three years, with a staggering 1-year return of -45.82% compared to a slight decline of -0.61% for the Sensex. This consistent underperformance, coupled with a high percentage of pledged promoter shares (57.68%), adds to the stock's volatility and downward pressure in a falling market. The stock's liquidity remains adequate for trading, but the overall negative sentiment surrounding its financial health and operational challenges continues to drive its price lower.