Why is M T N L falling/rising?

As of 22-Sep, Mahanagar Telephone Nigam Ltd's stock price is currently at 44.80, reflecting a decline of -0.32, or -0.71%. The stock has been underperforming, having fallen for the last three consecutive days, resulting in a total decrease of -0.97% during this period. Additionally, the stock has shown negative returns over the past week and month, with declines of -0.24% and -2.78%, respectively. The company has reported negative results for the last two consecutive quarters, with a significant drop in net sales and operating profit, indicating weak long-term growth and a negative book value. Furthermore, the stock's high debt levels and poor performance relative to historical valuations contribute to its classification as a risky investment, leading to diminished investor confidence.
In the broader market context, the stock's performance has lagged behind the benchmark, with the Sensex gaining +0.46% over the past week while MTNL has seen a slight decline. Over the past year, the stock has underperformed significantly, with a return of -18.52% compared to the benchmark's decline of only -2.82%. This stark contrast highlights the stock's struggles in attracting investor interest, as evidenced by the low participation from domestic mutual funds, which hold no stake in the company. The overall market sentiment appears to be more favorable than that of MTNL, further exacerbating the stock's downward trajectory.