Why is Indiabulls Enter falling/rising?

As of 11-Jul, Indiabulls Enterprises Ltd has seen its stock price rise to 19.36, reflecting an increase of 0.46 or 2.43%. The stock has recently outperformed its sector by 3.68% and has experienced a trend reversal, gaining after eight consecutive days of decline. Over the past year, the stock has generated a remarkable return of 69.68%, significantly higher than the market's return of 0.52%. However, the company faces challenges, including a negative book value and a high Debt to EBITDA ratio of 6.38 times, which raises concerns about its long-term fundamental strength. Additionally, the promoters have reduced their stake by 7.56%, indicating a potential lack of confidence in the company's future.
In the broader market context, the stock's short-term performance over the past week shows a decline of 4.49%, while the benchmark Sensex has only decreased by 1.12%. This suggests that while the stock has recently rebounded, it has struggled in the short term compared to the overall market. Despite the recent positive movement, the company's financial struggles, including significant losses and negative net worth, may continue to weigh on investor sentiment and affect its future performance.