Why is Shalimar Paints falling/rising?

As of 06-Nov, Shalimar Paints Ltd. is experiencing a decline in its stock price, currently at Rs 74.60, reflecting a decrease of Rs 2.55 or 3.31%. The stock has underperformed its sector by 6.41% today and has been on a downward trend for the last two days, with a total loss of 4.39% during this period. It opened with a gap down of 2.46% and reached an intraday low of Rs 74.31. Additionally, the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. The stock's performance over the past week shows a decline of 3.72%, and it has significantly underperformed the benchmark Sensex, which has gained 1.86% over the same period.
In the broader market context, Shalimar Paints' recent performance contrasts sharply with the Sensex, which has shown resilience with a year-to-date increase of 6.62%. The stock's year-to-date decline of 41.33% further highlights its struggles compared to the benchmark's positive trajectory. The paints sector as a whole has gained 3.56%, indicating that the issues affecting Shalimar Paints are specific to the company rather than the industry. Furthermore, there has been a notable decrease in investor participation, with delivery volume dropping by 65.22% against the 5-day average, suggesting a lack of confidence among investors.