Why is Vardhman Polytex falling/rising?

As of 19-Sep, Vardhman Polytex Ltd is currently priced at 8.98, reflecting a slight increase of 0.03 or 0.34%. The stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Additionally, there has been a significant drop in investor participation, with delivery volume falling by 34.43% compared to the 5-day average. Over the past week, the stock has underperformed with a return of -0.77%, while its performance over the last month shows a decline of 15.44%. The company faces several challenges, including a negative book value and weak long-term growth, as evidenced by a -6.80% annual rate in net sales growth and stagnant operating profit over the last five years. Furthermore, 69.62% of promoter shares are pledged, which adds downward pressure in a falling market.
Broader market context indicates that while the Sensex has gained 0.88% over the past week, Vardhman Polytex has not only underperformed the benchmark but has also seen a significant decline in its stock price over the past year, with a return of -20.39% compared to the market's -0.67%. This underperformance highlights the stock's riskiness, especially given its high debt levels and negative book value. The overall market conditions have been more favorable, yet Vardhman Polytex's financial struggles and the high percentage of pledged shares contribute to its continued decline, making it a strong sell in the current environment.