Why is Steel Exchange falling/rising?

As of 07-Jul, Steel Exchange India Ltd is experiencing a decline in its stock price, currently at 9.83, reflecting a decrease of 0.17 or 1.7%. The stock has underperformed its sector today by 1.52% and has been on a consecutive downward trend for the last three days, resulting in a total decline of 5.3%. Over the past week, the stock has decreased by 3.15%, while its performance over the last month shows a positive return of 17.44%. However, the stock has generated a negative return of 30.23% over the past year, indicating significant underperformance compared to the benchmark. The company has a high proportion of pledged promoter shares, which adds downward pressure in a falling market, and its weak long-term fundamentals, including a high Debt to EBITDA ratio and low growth rates, further contribute to investor concerns.
In the broader market context, Steel Exchange's recent performance contrasts with the BSE Sensex, which has only declined by 0.20% over the past week. While the stock has shown some recovery in the last month, its year-to-date performance is still negative at -3.82%, compared to the Sensex's positive return of 6.79%. The stock's liquidity appears adequate for trading, but the significant drop in delivery volume by 46.13% against the 5-day average suggests waning investor interest. Overall, the combination of weak fundamentals, high promoter share pledging, and consistent underperformance against the benchmark has led to the stock's current decline.