Why is Bajaj Hindusthan falling/rising?

As of 01-Sep, Bajaj Hindusthan Sugar Ltd is currently priced at 20.40, reflecting an increase of 0.22 or 1.09%. The stock has shown a trend reversal today, gaining after six consecutive days of decline. However, it is trading below all its moving averages, indicating a bearish trend. Over the past week, the stock has underperformed with a return of -3.27%, while it has significantly declined by -11.46% over the past month. The company has reported substantial losses, with a profit after tax (PAT) falling by 212.2%, and it has a high debt to EBITDA ratio of 19.57 times, which raises concerns about its ability to service debt. Additionally, 100% of promoter shares are pledged, which could exert further downward pressure on the stock price in a falling market.
In the broader market context, while the BSE500 index has generated negative returns of -4.75% over the last year, Bajaj Hindusthan has significantly underperformed with a return of -52.14%. This stark contrast highlights the company's struggles relative to the market. Despite today's positive movement, the overall sentiment remains negative due to the company's weak long-term fundamentals, including operating losses and a low return on equity. The falling investor participation, as evidenced by a 24.83% drop in delivery volume, further suggests a lack of confidence among investors, contributing to the stock's volatility and recent price movements.