Why is Nagarjuna Fert. falling/rising?

As of 01-Sep, Nagarjuna Fertilizers & Chemicals Ltd is currently priced at 5.26, reflecting a slight increase of 0.01 (0.19%). Despite this small uptick, the stock has been on a downward trend, having underperformed its sector by 1.77% today and is trading below all key moving averages. Over the past week, the stock has seen a significant decline of 8.52%, and its year-to-date performance shows a staggering drop of 43.92%. The company is facing serious challenges, including a negative book value and a high debt-to-EBITDA ratio of 6.80 times, indicating a weak long-term fundamental strength. Additionally, the stock has reported losses, with a negative net worth and a concerning PAT of Rs -6.26 crore, which has fallen by 100.3%. The high percentage of pledged promoter shares (37.41%) further exacerbates the stock's vulnerability in a declining market.
In the broader market context, Nagarjuna Fertilizers has consistently underperformed against the benchmark, with a one-year return of -49.08% compared to a -2.43% decline in the Sensex. This consistent underperformance over the last three years highlights the stock's struggles relative to the market. The recent trend reversal, where the stock gained after six consecutive days of decline, may not be enough to offset the negative sentiment surrounding its financial health and operational challenges. The falling investor participation, indicated by a 45.24% drop in delivery volume, suggests a lack of confidence among investors, which could further hinder any potential recovery in the stock's price.