Why is Essar Shipping falling/rising?

As of 12-Sep, Essar Shipping Ltd is experiencing a decline in its stock price, currently at 24.15, reflecting a decrease of 0.28 or 1.15%. The stock has underperformed its sector by 1.62% today and has fallen after two consecutive days of gains. It is trading below all key moving averages, indicating a bearish trend. Over the past week, the stock has decreased by 2.82%, and its year-to-date performance shows a significant drop of 31.61%. Despite reporting positive results for the last four consecutive quarters, including a 152.14% growth in PAT, the company faces challenges such as a negative book value and a high Debt to EBITDA ratio of 9.32 times, which raises concerns about its long-term viability and ability to service debt.
In the broader market context, the stock's performance has been notably weaker than the benchmark, with a one-year return of -42.96% compared to the Sensex's decline of only 1.28%. This stark contrast highlights the stock's underperformance, even as the overall market has shown resilience. The limited interest from domestic mutual funds, holding only 0.03% of the company, suggests a lack of confidence in the stock's current valuation or business prospects. Overall, the combination of negative financial indicators and poor market sentiment contributes to the stock's downward trajectory.