Why is HFCL falling/rising?

As of 08-Aug, HFCL Ltd's stock price is currently at Rs 72.94, reflecting a decrease of Rs 1.18 or 1.59%. The stock is trading close to its 52-week low, just 1.97% away from Rs 71.5. Performance today is in line with the sector, which has seen a decline of 2.04%. Additionally, HFCL is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Over the past year, the stock has generated a return of -46.54%, while its profits have plummeted by 90.9%. The company's recent financial results have been negative, with net sales falling by 24.8% and a significant drop in profit before tax and profit after tax. Furthermore, promoter confidence appears to be waning, as they have reduced their stake in the company by 2.79% in the last quarter.
In the broader market context, HFCL's short-term return of -0.46% over the past week is better than the benchmark Sensex, which has declined by 0.92%. However, the stock's long-term performance is concerning, with a year-to-date return of -35.42% compared to a positive return of 2.20% for the Sensex. The overall sentiment around the telecommunications equipment sector is negative, contributing to HFCL's struggles. The combination of poor financial performance, declining investor participation, and reduced promoter confidence suggests a challenging outlook for HFCL, leading to its current downward price movement.