Why is Essar Shipping falling/rising?

As of 08-Sep, Essar Shipping Ltd is currently priced at 24.19, reflecting a decrease of 0.66, or 2.66%. The stock has been underperforming, having fallen for the last three days with a total decline of 4.2%. It 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 decreasing by 42.29% compared to the 5-day average. Despite the company reporting positive results for the last four consecutive quarters, including a substantial growth in profit after tax, it faces challenges due to a negative book value and a high debt-to-EBITDA ratio, which raises concerns about its long-term viability and ability to service debt.
In the broader market context, while the stock has shown a short-term gain of 1.90% over the past week, it has significantly underperformed the benchmark Sensex, which has only increased by 0.53% during the same period. Over the past month, Essar Shipping's decline of 5.84% contrasts sharply with the Sensex's rise of 1.16%. This stark difference highlights the stock's struggles relative to the market, further compounded by its negative performance over the past year, where it has dropped 45.38% compared to a slight decline of 0.49% in the Sensex. The low stake held by domestic mutual funds, at only 0.03%, suggests a lack of confidence in the stock's current valuation and business outlook.