Why is JP Associates falling/rising?

As of 04-Aug, Jaiprakash Associates Ltd's stock price is currently at 3.24, reflecting an increase of 0.09 or 2.86%. The stock has shown a positive trend recently, gaining 5.88% over the past week and outperforming its sector by 2.02%. Despite this short-term gain, the company faces significant challenges, including a negative book value and a high Debt to EBITDA ratio of 13.44 times, indicating a weak long-term fundamental strength. Additionally, the company has reported losses for the last three consecutive quarters, with a notable decline in profit before tax and profit after tax, which has raised concerns among investors about its ability to sustain operations without raising fresh capital or returning to profitability.
In the broader market context, while Jaiprakash Associates has outperformed the Sensex by 5.72% over the past week, it has consistently underperformed against the benchmark over the last three years, with a staggering 65.05% decline in the past year compared to a modest 0.05% increase in the Sensex. This persistent underperformance, coupled with low domestic mutual fund interest, suggests a lack of confidence in the company's future prospects despite recent short-term gains. The stock's liquidity appears adequate for trading, but the overall sentiment remains cautious due to the company's ongoing financial struggles and negative results.