Why is JP Associates falling/rising?

As of 28-Jul, Jaiprakash Associates Ltd is experiencing a decline in its stock price, currently at 3.06, which reflects a decrease of 0.16 or 4.97%. The stock has underperformed its sector by 3.8% today, and it has not traded on 4 out of the last 20 days, indicating erratic trading behavior. Additionally, the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Over the past week, the stock has dropped by 4.97%, and it has shown a significant year-to-date decline of 51.20%. The company has 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 net sales falling by 30% compared to the previous four-quarter average, contributing to the stock's downward trend.
In the broader market context, the stock's performance has been notably poor compared to the benchmark, with a one-year return of -64.08% against the Sensex's -0.54%. This consistent underperformance over the last three years suggests a lack of investor confidence, as evidenced by domestic mutual funds holding only 0.03% of the company, indicating they may not be comfortable with the current price or business outlook. The stock's liquidity is also a concern, as the delivery volume has fallen significantly, further reflecting declining investor participation. Overall, the combination of negative financial results, high debt levels, and poor market sentiment has contributed to the stock's ongoing decline.