Why is Indian Acrylics falling/rising?

As of 22-Sep, Indian Acrylics Ltd is currently priced at 7.78, reflecting an increase of 0.09 or 1.17%. Despite this slight uptick, the stock has been underperforming significantly, with a 1-week return of -0.51% compared to a +0.46% return for the Sensex. The company is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Additionally, there has been a notable decline in investor participation, with delivery volume dropping by 19.25% against the 5-day average. The company has reported negative results for the last nine consecutive quarters, with a high debt-equity ratio of 17.21 times, which raises concerns about its long-term financial health and ability to service debt.
In the broader market context, while the Sensex has shown a positive return of +0.46% over the past week, Indian Acrylics has lagged behind, highlighting its consistent underperformance against the benchmark. The stock has generated a return of -39.97% over the past year, further emphasizing its struggles compared to the broader market, which has seen a modest decline of -2.82%. The high level of pledged promoter shares and the company's weak long-term growth prospects contribute to the negative sentiment surrounding the stock, making it a risky investment in the current market environment.