Why is Vadivarhe Speci. falling/rising?

As of 23-Sep, Vadivarhe Speciality Chemicals Ltd is currently priced at 29.45, showing no change (0.00%). The stock has underperformed over the past month with a decline of 1.83%, while the benchmark Sensex has increased by 1.20%. Despite a 0.56% outperformance against its sector today, the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. The company has not declared results in the last six months, which raises concerns about its long-term fundamental strength. Additionally, the high Debt to EBITDA ratio and low Return on Equity suggest significant financial challenges, contributing to the stock's negative performance, which has seen a staggering decline of 54.16% over the past year.
In the broader market context, the stock's recent performance contrasts sharply with the benchmark Sensex, which has shown resilience with a 6.45% gain year-to-date. While Vadivarhe's stock has seen a significant drop of 33.89% year-to-date, the Sensex's positive trajectory highlights the company's struggles relative to the overall market. The liquidity of the stock remains adequate, with a notable increase in delivery volume, but the underlying financial issues and negative EBITDA position the stock as risky, further explaining its lack of upward momentum in the current market environment.