Why is M T N L falling/rising?

As of 06-Nov, Mahanagar Telephone Nigam Ltd (MTNL) is experiencing a decline in its stock price, currently at 41.13, reflecting a decrease of 0.75 or 1.79%. The stock has underperformed its sector by 0.78% today and has been on a downward trend for the last two days, accumulating a total decline of 3.29%. Additionally, MTNL is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating weak momentum. The company has reported negative results for the last two consecutive quarters, with a significant drop in net sales and operating profit, contributing to its negative book value and high debt levels. The stock has also seen a decrease in investor participation, with delivery volume falling by 34.31% against the 5-day average, further signaling a lack of confidence among investors.
In the broader market context, MTNL's performance has been notably poor compared to the benchmark, with a year-to-date return of -18.34% against the Sensex's gain of 6.62%. Over the past month, MTNL has declined by 4.35%, while the benchmark has risen by 1.86%. This underperformance is compounded by a reduction in institutional investor stakes, which have decreased by 0.51% in the previous quarter, indicating a lack of confidence from more knowledgeable market participants. Overall, the combination of negative financial results, declining investor interest, and poor relative performance to the market has led to the stock's recent downward movement.