Why is JP Associates falling/rising?

As of 07-Jul, Jaiprakash Associates Ltd is experiencing a price increase, currently at 3.22, with a change of 0.15, representing a rise of 4.89%. Despite this short-term uptick, the stock has shown erratic trading patterns, having not traded on 4 out of the last 20 days, and is currently trading below all its moving averages. Additionally, the stock has underperformed significantly over the longer term, with a year-to-date decline of 48.64% and a staggering 60.83% drop over the past year. The company is facing serious financial challenges, including a negative book value and a high debt-to-EBITDA ratio of 13.44 times, which raises concerns about its ability to service debt. Furthermore, the company has reported negative results for the last three consecutive quarters, with a significant fall in both profit before tax and profit after tax, indicating weak long-term fundamental strength.
In the broader market context, while Jaiprakash Associates has outperformed its sector by 5.63% today, the overall trend remains concerning as the benchmark Sensex has shown a slight decline of 0.20% over the past week. The stock's performance is particularly alarming when compared to the benchmark over the last three years, where it has consistently underperformed, generating negative returns while the broader market has seen positive growth. The low participation from domestic mutual funds, holding only 0.03% of the company, suggests a lack of confidence in the stock's future prospects, further compounding the challenges faced by Jaiprakash Associates in a competitive market environment.