Why is Essar Shipping falling/rising?

As of 18-Sep, Essar Shipping Ltd's stock price is currently at 26.17, reflecting a decrease of 0.25, or 0.95%. The stock has recently underperformed its sector by 1.25% and has experienced a trend reversal, falling after three consecutive days of gains. Despite a positive performance over the past week with a return of 7.12%, the stock has significantly underperformed over the year, with a decline of 34.57%. The company has reported positive results for the last four consecutive quarters, with a notable growth in profit after tax of 21.9%. However, it also faces challenges such as a negative book value and a high debt-to-EBITDA ratio of 9.32 times, indicating weak long-term fundamental strength and a low ability to service debt.
In the broader market context, while the Sensex has shown a modest increase of 1.80% over the past week, Essar Shipping's performance has been notably weaker, particularly over the last year, where it has declined by 34.57% compared to the market's negative return of 1.96%. This stark contrast suggests that investor sentiment towards Essar Shipping is cautious, as evidenced by the low domestic mutual fund holdings of only 0.03%, indicating a lack of confidence in the stock's valuation or business prospects. The stock's liquidity is adequate for trading, but the overall negative sentiment surrounding its financial health and performance relative to the market contributes to its current price decline.