Why is Eastern Treads falling/rising?

As of 15-Sep, Eastern Treads Ltd is currently priced at 31.59, reflecting a slight increase of 0.12 or 0.38%. The stock has been gaining for the last three days, with a total return of 5.3% during this period. However, it has underperformed its sector by 1.36% today and has shown a significant decline in performance over the past month and year, with returns of -10.48% and -28.48%, respectively. The company reported positive results for the quarter ending June 25, with the highest PAT at Rs -0.14 cr and net sales at Rs 16.65 cr, but it also faces challenges such as a negative book value and high debt levels, which contribute to its weak long-term fundamental strength.
In the broader market context, the stock's recent short-term performance of +5.3% over the last three days contrasts with the benchmark, which has seen a return of +1.24% over the past week. Despite this recent uptick, Eastern Treads has consistently underperformed against the benchmark over the last three years, with a significant decline in returns compared to the BSE500. The stock's liquidity remains adequate for trading, but falling investor participation, as indicated by a 66.09% drop in delivery volume, suggests a lack of confidence among investors, further complicating its market position.