Why is Essar Shipping falling/rising?

As of 03-Sep, Essar Shipping Ltd's stock price is currently at Rs 25.26, reflecting an increase of Rs 1.11 or 4.6%. The stock has shown a positive trend recently, gaining 8.18% over the last three days and outperforming its sector by 4.14% today. However, despite this short-term gain, the stock has underperformed over the past month with a decline of 6.65% and a significant year-to-date drop of 28.46%. The company has reported positive results for the last four consecutive quarters, with a notable growth in profit after tax, but it also faces challenges such as a negative book value and a high debt-to-EBITDA ratio, which raises concerns about its long-term viability.
In the broader market context, while the Sensex has shown a slight decline of 0.27% over the past week, Essar Shipping's stock has outperformed this benchmark with a return of 6.58%. Despite the recent gains, the stock's performance over the last year remains concerning, with a drop of 43.74%, indicating a significant underperformance compared to the broader market's negative return of 4.38%. The low participation from domestic mutual funds, holding only 0.03% of the company, suggests a lack of confidence in the stock's future prospects, further complicating its position in the market.