Why is HFCL falling/rising?

As of 22-Sep, HFCL Ltd is currently priced at Rs 74.86, reflecting a decline of Rs 1.54 or 2.02%. The stock has underperformed its sector by 2.11% today and has experienced a consecutive fall over the last two days, resulting in a total drop of 3.64%. The stock's performance over the past week shows a modest increase of 1.31%, but it has significantly underperformed over the longer term, with a year-to-date decline of 33.72% and a staggering 53.72% drop over the past year. The company's recent financial results have been troubling, with net sales falling by 24.8% and profits plummeting by 90.9%, contributing to a negative sentiment around the stock. Additionally, 54.12% of promoter shares are pledged, which can exert further downward pressure in a declining market.
In the broader market context, HFCL's short-term performance contrasts with the Sensex, which has gained 0.46% over the past week. While HFCL has shown some resilience in the short term with a 1.73% increase over the last month, its long-term outlook remains bleak, evidenced by a 53.72% decline over the past year compared to a 5.15% increase in the benchmark. The stock's liquidity remains adequate for trading, but the significant drop in investor participation, with a 69.88% decrease in delivery volume, indicates waning interest. Overall, the combination of poor financial results, high pledged shares, and underperformance relative to the market contributes to the stock's current downward trajectory.