Why is Essar Shipping falling/rising?

As of 15-Sep, Essar Shipping Ltd's stock price is currently at 24.25, reflecting an increase of 0.1 (0.41%). The stock's performance today is in line with the sector, although it is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Over the past week, the stock has seen a slight increase of 0.25%, but it has significantly underperformed over the past month and year, with declines of 6.52% and 43.13%, respectively. Despite reporting positive results for the last four consecutive quarters, including a 21.9% 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 financial health.
In the broader market context, while the Sensex has increased by 1.24% over the past week, Essar Shipping's modest gain indicates a relative underperformance. The stock's year-to-date decline of 31.32% starkly contrasts with the Sensex's gain of 4.67%, highlighting its struggles in a generally positive market environment. The company’s weak long-term fundamentals and negative EBITDA further contribute to its risk profile, making it less attractive to investors despite recent positive quarterly results. Overall, the combination of rising investor participation and ongoing financial concerns suggests a complex situation for Essar Shipping, where short-term gains may not be sufficient to offset long-term risks.