Why is HMT falling/rising?

As of 18-Jul, HMT Ltd's stock price is currently at 63.25, reflecting a decline of 0.45, or 0.71%. The stock has been underperforming, having fallen consecutively for the last two days, resulting in a total drop of 1.54% during this period. In terms of performance against benchmarks, HMT has experienced a 1-week decline of 1.20% and a significant 1-month drop of 8.60%, while the Sensex has shown a slight increase of 0.38% over the same month. The company's weak long-term fundamentals, highlighted by a lack of declared results in the last six months and a concerning debt-to-equity ratio, contribute to the negative sentiment surrounding the stock. Additionally, the stock's poor sales performance, with net sales falling by 24.4% in the last quarter, further exacerbates investor concerns.
Broader market context indicates that HMT has significantly underperformed relative to the market over the past year, with a staggering decline of 36.90% compared to the BSE500's negative return of only 0.36%. This stark contrast suggests that investor confidence in HMT is waning, as evidenced by a 50.95% drop in delivery volume against the 5-day average, indicating reduced participation in trading. The liquidity of the stock remains sufficient for trading, but the overall market sentiment appears to be cautious, particularly given the company's high debt levels and negative EBITDA, which make it a risky investment compared to its historical valuations.