Why is Shalimar Paints falling/rising?

As of 12-Sep, Shalimar Paints Ltd. is experiencing a decline in its stock price, currently at Rs 73.04, which reflects a decrease of -0.49 or -0.67%. The stock has been losing value for the last three days, with a total return of -0.92% during this period. It is also close to its 52-week low, just 4.13% away from Rs 70.02. The stock's performance over the past month shows a decline of -0.63%, and it has significantly underperformed the benchmark indices, with a year-to-date return of -42.56% compared to the Sensex's +4.82%. Key negative factors contributing to this decline include operating losses, a weak long-term growth outlook, and a high debt-equity ratio, which indicates financial instability. Additionally, 57.68% of promoter shares are pledged, adding further downward pressure on the stock.
In the broader market context, the stock's short-term return of +0.45% over the past week is notably lower than the Sensex's gain of +1.48%, highlighting its underperformance relative to the market. The overall market appears to be on an upward trajectory, while Shalimar Paints continues to struggle, reflecting a lack of investor confidence due to its poor financial health and operational challenges. The falling investor participation, as indicated by a decrease in delivery volume, further suggests that market sentiment towards the stock is negative, contributing to its ongoing decline.