Why is JP Associates falling/rising?

As of 12-Aug, Jaiprakash Associates Ltd is experiencing a price increase, currently at 4.18, which reflects a rise of 0.19 or 4.76%. The stock has demonstrated strong performance recently, gaining 33.12% over the last six days and outperforming its sector by 4.6% today. 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 weak long-term fundamental strength. The company has reported losses for the last three consecutive quarters, with a notable decline in both profit before tax and profit after tax, which raises concerns about its ability to sustain operations without raising fresh capital or achieving profitability.
In the broader market context, Jaiprakash Associates has outperformed the Sensex in the short term, with a 27.05% return over the past week compared to a slight decline of 0.59% for the benchmark. However, the stock's long-term performance remains troubling, with a 54.66% decline over the past year, significantly underperforming the BSE500 index. This consistent underperformance, coupled with low domestic mutual fund interest, suggests a lack of confidence in the company's future prospects, despite the recent price increase.