Why is Hind.Natl.Glass falling/rising?

As of 01-Sep, Hindusthan National Glass & Industries Ltd is experiencing a decline in its stock price, currently at Rs. 9.34, which represents a decrease of 0.49 or 4.98%. The stock has hit a new 52-week low today and has been on a consecutive downward trend for the last 10 days, resulting in a significant drop of 39.9% during this period. Over the past week, the stock has underperformed the sector by 7.25%, and its performance over the last month shows a staggering decline of 41.59%. The company's financial health is concerning, with negative results reported for the last four consecutive quarters, including a drastic fall in profit before tax and net sales. Additionally, the company has a negative book value and a high debt-to-equity ratio, which further exacerbates its weak long-term growth prospects.
In the broader market context, the stock's performance has been notably poor compared to the benchmark, with a year-to-date return of -61.34% against a positive return of 2.85% for the Sensex. This stark contrast highlights the stock's underperformance not only in the long term but also in the near term, as it has consistently lagged behind the broader market indices. The overall market sentiment appears to be unfavorable for Hindusthan National Glass, particularly given the high percentage of pledged promoter shares, which adds additional downward pressure on the stock price in a declining market.