Why is Vardhman Polytex falling/rising?

As of 22-Sep, Vardhman Polytex Ltd is experiencing a decline in its stock price, currently at Rs 8.75, which reflects a decrease of Rs 0.23 or 2.56%. The stock is trading lower than its moving averages across various time frames, indicating a bearish trend. It is also close to its 52-week low, being only 4.91% away from Rs 8.32. The stock has underperformed its sector by 1.85% today, and there has been a notable drop in investor participation, with delivery volume falling by 13.9% compared to the 5-day average. Over the past year, the stock has generated a return of -25.78%, significantly worse than the broader market's decline of -2.82%.
In the broader market context, Vardhman Polytex's short-term performance has been negative, with a 1-week return of -2.67%, contrasting with the Sensex's gain of 0.46%. The company's weak long-term fundamentals, highlighted by a negative book value and high debt levels, contribute to its risk profile and have led to a strong sell recommendation. Additionally, the fact that 69.62% of promoter shares are pledged adds to the downward pressure on the stock, particularly in a falling market. Overall, the combination of poor financial performance, high debt, and underperformance relative to the market has resulted in the stock's current decline.