Why is Nova Iron &Steel falling/rising?

As of 04-Jul, Nova Iron & Steel Ltd's stock price is currently at 14.67, reflecting an increase of 0.32 or 2.23%. The stock has shown a positive performance today, outperforming its sector by 2.44%. In the past week, it has risen by 4.71%, although it has experienced a decline of 16.84% year-to-date and a significant drop of 36.74% over the past year. Despite today's upward movement, the stock faces challenges, including falling investor participation, as indicated by a decrease in delivery volume. Additionally, the company has not declared results in the last six months, and its long-term fundamentals appear weak, with high debt levels and negative operating profits contributing to a risky investment profile.
In the broader market context, while Nova Iron & Steel has outperformed the Sensex by 4.71% over the past week, the benchmark index has shown a slight decline of 0.74% during the same period. This short-term outperformance contrasts with the stock's longer-term struggles, as it has underperformed the BSE500 over the last three years, one year, and three months. The company's poor financial performance, including a significant drop in net sales and profits, further complicates its position in the market, suggesting that while there may be short-term gains, the overall outlook remains concerning.