Why is JP Associates falling/rising?

As of 18-Aug, Jaiprakash Associates Ltd is experiencing a decline in its stock price, currently at 3.98, reflecting a decrease of 0.2 or 4.78%. The stock has underperformed its sector by 6.56% today, and its trading activity has been erratic, with no trades on two out of the last twenty days. The stock's performance over the past week shows a slight decline of 0.25%, while it has gained 17.75% over the past month. However, the stock has significantly underperformed over the longer term, with a year-to-date return of -36.52% and a one-year return of -56.83%. The company is facing substantial challenges, including a negative book value, a high debt-to-EBITDA ratio of 13.44 times, and consistent losses over the last four quarters, which contribute to its weak long-term fundamental strength.
In the broader market context, while the Sensex has shown a positive return of 0.83% over the past week, Jaiprakash Associates Ltd's performance has been notably poor, indicating a significant divergence from the benchmark. The stock's liquidity is relatively low, with a delivery volume that has fallen by 90.85% against the five-day average, suggesting a lack of investor confidence. Additionally, domestic mutual funds hold only a minimal stake of 0.03%, which may reflect their discomfort with the company's current valuation and business outlook. Overall, the consistent underperformance against the benchmark over the last three years further underscores the challenges faced by the company, leading to its current downward price movement.