Why is M T N L falling/rising?

As of 23-Sep, Mahanagar Telephone Nigam Ltd's stock price is currently at 44.19, reflecting a decrease of 0.54 or 1.21%. The stock has been underperforming, having lost 2.32% over the last four days and is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Additionally, the stock has shown a significant decline in investor participation, with delivery volume dropping by 21.67% compared to the 5-day average. Over the past year, the stock has generated a return of -19.02%, which is considerably worse than the benchmark's decline of -3.33%. The company's negative book value and weak long-term fundamentals, including a high debt-to-equity ratio and declining net sales, further contribute to the stock's downward trajectory.
In the broader market context, while the Sensex has shown a slight decline of 0.34% over the past week, Mahanagar Telephone Nigam Ltd's performance has been notably worse, with a 1.76% drop in the same period. The stock's poor performance is compounded by its negative results in the last two quarters and a lack of confidence from domestic mutual funds, which hold no stake in the company. This lack of institutional support, combined with the company's risky financial metrics, suggests that investors are cautious, leading to the stock's continued decline.