Why is Vardhman Polytex falling/rising?

As of 24-Jul, Vardhman Polytex Ltd's stock price is currently at 10.72, reflecting a decrease of 0.38, or 3.42%. The stock has underperformed its sector today by 3.44%, and it is trading below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages. Over the past week, the stock has declined by 4.03%, and it has experienced a significant drop of 12.85% over the past month. Despite a strong performance over the past year with a return of 29.78%, the company faces challenges such as a negative book value and weak long-term growth, with net sales declining at an annual rate of 12.66%. Additionally, 69.62% of promoter shares are pledged, which can exert further downward pressure on the stock price in a falling market.
In the broader market context, the Sensex has shown minimal movement with a decline of only 0.09% over the past week, contrasting sharply with Vardhman Polytex's more significant drop. The stock's performance over the year has been impressive compared to the benchmark, which has only returned 2.54%. However, the recent financial results indicate a concerning trend, with a substantial decline in both profit before tax and profit after tax compared to previous quarters. The high debt levels and negative book value further contribute to the stock's risk profile, making investors wary and leading to the current price decline.