Why is Shalimar Paints falling/rising?

As of 22-Sep, Shalimar Paints Ltd. is experiencing a decline in its stock price, currently at Rs 82.48, which reflects a decrease of Rs 3.18 or 3.71%. Today's price summary indicates that the stock opened with a gain of 2.14% but has since fallen, marking a trend reversal after three consecutive days of gains. The stock touched an intraday high of Rs 87.49 and a low of Rs 82, with a weighted average price showing more volume traded close to the low price. Over the past week, the stock has outperformed the Sensex with a return of 11.76% compared to the benchmark's 0.46%. However, the company faces significant challenges, including operating losses and a weak long-term fundamental strength, as evidenced by a negative EBIT to Interest ratio and a high debt-equity ratio. Additionally, 57.68% of promoter shares are pledged, which can exert further downward pressure on the stock in a declining market.
Broader Market Context: In the context of the broader market, while Shalimar Paints has shown a strong short-term performance relative to the Sensex, its long-term outlook remains concerning. The stock has underperformed the benchmark over the last three years, generating a return of -41.57% compared to the Sensex's -2.82% over the same period. This consistent underperformance, coupled with the company's weak financial indicators and high promoter pledge, contributes to a negative sentiment around the stock, leading to its current decline.