Why is JP Associates falling/rising?

As of 11-Aug, Jaiprakash Associates Ltd's stock price is currently at 3.99, reflecting an increase of 0.19 or 5.0%. The stock has been on a positive trajectory, gaining for the last five days and achieving a remarkable 27.07% return over that period. However, 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. The company has reported losses for the last three consecutive quarters, with a notable decline in profit before tax and profit after tax, which raises concerns 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 27.58% over the past week, the stock has consistently underperformed against the benchmark over the last three years, with a one-year return of -58.87% compared to the Sensex's modest gain of 1.13%. This stark contrast highlights the stock's volatility and the risks associated with its investment, as indicated by the low participation from domestic mutual funds, which hold only 0.03% of the company. The stock's recent rise may be attributed to short-term trading dynamics, but the underlying financial health of the company suggests caution for potential investors.