Why is JP Associates falling/rising?

As of 21-Jul, Jaiprakash Associates Ltd is experiencing a decline in its stock price, currently at 3.22, reflecting a decrease of 0.16 or 4.73%. The stock has underperformed its sector by 5.75% today and has shown erratic trading patterns, not trading on 4 out of the last 20 days. It is trading below all its moving averages, indicating a bearish trend. Over the past week, the stock has dropped by 4.73%, and it has significantly underperformed the benchmark Sensex, which only fell by 0.06%. The company has a negative book value and a high Debt to EBITDA ratio of 13.44 times, which raises concerns about its long-term viability. Additionally, the company has reported losses for the last three consecutive quarters, with net sales and profit before tax showing substantial declines compared to previous averages.
In the broader market context, the stock's performance has been consistently poor, with a year-to-date decline of 48.64% compared to a 5.20% increase in the Sensex. This stark contrast highlights the stock's inability to keep pace with market trends. The lack of confidence from domestic mutual funds, which hold only 0.03% of the company, suggests that institutional investors are wary of the stock's prospects. Overall, the combination of negative financial results, high debt levels, and consistent underperformance against the benchmark indicates a challenging environment for Jaiprakash Associates Ltd, contributing to its falling stock price.