Why is Patspin India falling/rising?

As of 19-Sep, Patspin India Ltd's stock price is currently at 9.70, reflecting a decrease of -0.02 or -0.21%. The stock has been underperforming, having fallen consecutively for the last two days, resulting in a total decline of -4.43%. It is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Additionally, the stock has shown significant underperformance against the benchmark, with a -24.81% decline year-to-date compared to a +5.74% increase in the broader market. The company's weak fundamentals, highlighted by a negative book value, poor long-term growth, and high debt levels, contribute to its declining stock price. Furthermore, the pledge of 36.26% of promoter shares adds to the downward pressure in a falling market.
In the broader market context, the stock's performance over the past week has been notably poor, with a -3.00% return compared to the Sensex's +0.88%. This consistent underperformance against the benchmark over the last three years, coupled with a negative EBITDA and declining sales, underscores the challenges faced by Patspin India. The falling investor participation, as evidenced by a significant drop in delivery volume, further indicates a lack of confidence among investors, contributing to the stock's downward trajectory. Overall, the combination of weak financial health and adverse market conditions has led to the stock's decline.