Why is NB Footwear falling/rising?

As of 28-Aug, NB Footwear Ltd. is experiencing a decline in its stock price, currently at Rs 9.27, reflecting a decrease of Rs 0.47 or 4.83%. The stock has underperformed significantly, with a 1-week return of -15.42% and a 1-month return of -29.24%. Today's performance indicates that it is trading below all major moving averages, and it is close to its 52-week low, being only 4.53% away from Rs 8.85. The company's financial health is concerning, as it has a negative book value, high debt levels, and has reported poor long-term growth metrics, including a negative EBITDA. Additionally, promoter confidence appears to be waning, with a recent decrease in their stake, which may further signal a lack of faith in the company's future prospects.
In the broader market context, while the Sensex has shown a modest decline of -2.34% over the past week, NB Footwear's performance has been markedly worse, highlighting its struggles relative to the market. The stock's year-to-date performance is particularly alarming, with a drop of -42.92%, contrasting sharply with the Sensex's positive return of +2.48%. This significant underperformance suggests that investor sentiment is heavily negative, compounded by the company's weak financial results and declining promoter confidence, which may deter potential investors and contribute to the stock's ongoing decline.