Why is Essar Shipping falling/rising?

As of 23-Sep, Essar Shipping Ltd's stock is currently priced at 26.90, reflecting a decrease of 0.58, or 2.11%. Today's performance indicates that the stock has underperformed its sector by 1.28% and has experienced a trend reversal after two consecutive days of gains. Despite the stock being higher than its 5-day, 20-day, and 50-day moving averages, it remains lower than its 100-day and 200-day moving averages. The stock has shown a positive return of 5.53% over the past week and 8.25% over the past month, but it has a significant year-to-date decline of 23.82%. The company has reported positive results for the last four consecutive quarters, with a notable growth in PAT, but it also has 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 0.34% over the past week, Essar Shipping's performance has been more favorable in the short term compared to the benchmark, indicating a potential divergence in investor sentiment. However, the stock's year-long performance is concerning, as it has underperformed the market significantly with a return of -37.30%, compared to the Sensex's decline of only 3.33%. The low stake of domestic mutual funds in the company suggests a lack of confidence in its future prospects, further contributing to the stock's downward pressure.