Why is M T N L falling/rising?

As of 24-Sep, Mahanagar Telephone Nigam Ltd (MTNL) is experiencing a decline in its stock price, currently at 43.30, reflecting a decrease of 0.89 or 2.01%. The stock has underperformed its sector by 1.54% today and has been on a consecutive downward trend for the last five days, resulting in a total decline of 4.29% during this period. Additionally, MTNL is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. The company has reported negative results for the last two consecutive quarters, with net sales and profit after tax both declining by 40.03%. Furthermore, the company has a negative book value and a high debt-to-equity ratio, which contributes to its weak long-term fundamental strength and overall riskiness.
In the broader market context, MTNL's performance over the past year has significantly lagged behind the benchmark, with a return of -19.67% compared to the BSE500's decline of only -5.32%. This stark contrast highlights the stock's underperformance relative to the market. The falling investor participation, as evidenced by a 29.71% drop in delivery volume against the 5-day average, further underscores the lack of confidence among investors. Despite the stock's historical performance showing substantial gains over longer periods, the current negative sentiment and poor financial results are driving its recent decline.