Why is Vardhman Polytex falling/rising?

As of 18-Sep, Vardhman Polytex Ltd is currently priced at 8.95, reflecting a decrease of 0.07, or 0.78%. The stock has underperformed its sector by 0.98% today and has experienced a trend reversal, falling after two consecutive days of gains. It is trading below all key moving averages, indicating a bearish trend. Additionally, the stock has shown a significant decline year-to-date, with a return of -25.42%, while the stock has also underperformed the market over the past year with a return of -22.51%. The company faces challenges such as a negative book value, weak long-term growth, and high debt levels, which contribute to its classification as a strong sell.
In the broader market context, the stock's performance over the past week has been flat, while the benchmark Sensex has risen by 1.80%. This underperformance is further highlighted by the declining investor participation, as evidenced by a 7.66% drop in delivery volume compared to the five-day average. The high percentage of pledged promoter shares (69.62%) adds to the stock's risk, particularly in a falling market, which can exert additional downward pressure on its price. Overall, Vardhman Polytex's current challenges and its significant underperformance relative to the market indicate a negative outlook for the stock.