Why is Hipolin falling/rising?

As of 26-Jun, Hipolin Ltd's stock price is currently at Rs 74.58, reflecting a decline of Rs 3.92 or 4.99%. The stock has recently hit a new 52-week low and has underperformed its sector by 5.55%. Over the past three days, it has experienced a consecutive fall, totaling a decline of 11.06%. The stock is trading below its moving averages across various time frames, indicating a bearish trend. Additionally, the company has reported significant operating losses, with a negative PAT and PBDIT, and a concerning EBIT to Interest ratio, which suggests weak fundamentals and a risky investment profile. Furthermore, a substantial portion of promoter shares is pledged, which can exert additional downward pressure on the stock price.
In the broader market context, Hipolin's performance has been notably poor compared to the benchmark, with a year-to-date decline of 53.15% against a 7.19% increase in the Sensex. Over the last week and month, the stock has also underperformed significantly, with declines of 12.26% and 26.81%, respectively, while the benchmark has shown positive returns. This stark contrast highlights the stock's struggles in a generally rising market, further exacerbated by its weak financial performance and high levels of pledged shares, which contribute to investor apprehension.