Why is K G Denim falling/rising?

As of 17-Sep, K G Denim Ltd's stock price is currently at 21.90, reflecting a decrease of 0.28, or 1.26%. The stock has recently underperformed its sector by 2.27% and has experienced a trend reversal, falling after two consecutive days of gains. Despite this decline, K G Denim is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating some positive momentum. However, the company has a negative book value and has reported poor long-term growth, with net sales declining at an annual rate of 35.28% and operating profit decreasing by 184.63% over the last five years. Additionally, the company has declared negative results for the last 12 consecutive quarters, which has contributed to its recent stock price movement.
In the broader market context, K G Denim's short-term performance has been relatively strong, with a 4.29% increase over the past week, compared to a 1.56% rise in the Sensex. However, the stock has consistently underperformed against the benchmark over the last three years, with a year-to-date decline of 12.05% compared to a 5.83% increase in the Sensex. The high debt-to-equity ratio of 2.77 times and a low return on equity of 1.85% further exacerbate the stock's risk profile, making it less attractive to investors despite recent increases in delivery volume. Overall, the combination of negative financial results and high debt levels has led to a cautious outlook for K G Denim, contributing to its current price decline.