Why is Shalimar Paints falling/rising?

As of 17-Nov, Shalimar Paints Ltd. is experiencing a decline in its stock price, currently at Rs. 70.31, which reflects a decrease of Rs. 0.93 or 1.31%. The stock has hit a new 52-week low today and has been underperforming, having fallen consecutively for the last three days with a total decline of 8.89% during this period. Additionally, the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Over the past week, the stock has dropped 4.69%, and it has significantly underperformed the market with a year-to-date decline of 44.70%, compared to an 8.72% increase in the benchmark index. While there has been a rise in investor participation, with delivery volume increasing by 56.51% against the 5-day average, the overall sentiment remains negative.
Broader Market Context: In the context of the broader market, Shalimar Paints' recent performance contrasts sharply with the Sensex, which has gained 1.69% over the past week. This divergence highlights the stock's struggles relative to the market, as it has consistently underperformed not only in the short term but also over longer periods, including a 12.13% decline over the past month and a 33.04% drop over the past year. The liquidity of the stock remains adequate for trading, but the persistent downward trend and significant underperformance against the benchmark suggest a challenging environment for Shalimar Paints Ltd.