Why is Vardhman Polytex falling/rising?

As of 29-Aug, Vardhman Polytex Ltd's stock price is currently at 8.97, reflecting an increase of 0.14 or 1.59%. The stock has shown a trend reversal, gaining after four consecutive days of decline. However, it is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend overall. In the past week, the stock has underperformed with a return of -4.57%, while the Sensex has declined by only -1.84%. Additionally, the stock has a negative book value and a high debt-to-equity ratio, which contributes to its weak long-term fundamental strength. The company has experienced poor growth, with net sales declining at an annual rate of -6.80% over the last five years, and a significant portion of promoter shares (69.62%) are pledged, adding further risk to the stock.
Broader market context shows that Vardhman Polytex has underperformed the market significantly over the past year, with a return of -23.92% compared to the BSE500's negative return of -5.40%. Despite a recent uptick, the stock's overall performance remains concerning, especially given the falling investor participation, as evidenced by a 41.85% drop in delivery volume. The stock's liquidity is adequate for small trades, but the overall sentiment remains negative due to its weak fundamentals and high levels of pledged shares, which could exert additional downward pressure in a declining market.