Why is Vardhman Polytex falling/rising?

As of 28-Aug, Vardhman Polytex Ltd is experiencing a decline in its stock price, currently at 8.83, reflecting a decrease of -0.31 or -3.39%. The stock has been underperforming, having fallen for the last four consecutive days, resulting in a total return of -8.5% over the past week. It is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Additionally, investor participation has decreased significantly, with delivery volume dropping by 76.75% compared to the 5-day average. The company also has a negative book value and a weak long-term fundamental strength, evidenced by a decline in net sales and operating profit over the last five years, which further contributes to the stock's downward movement.
In the broader market context, Vardhman Polytex has underperformed the benchmark, with a one-year return of -21.37% compared to the BSE500's negative return of -5.01%. This stark contrast highlights the stock's struggles relative to the market. The high percentage of pledged promoter shares (69.62%) adds to the stock's risk, particularly in a declining market, which can exert additional downward pressure on its price. Overall, the combination of poor financial performance, declining investor interest, and unfavorable market conditions has led to the stock's recent decline.