Why is Nova Iron &Steel falling/rising?

As of 11-Jul, Nova Iron & Steel Ltd's stock price is currently at 15.57, reflecting an increase of 0.42 or 2.77%. The stock has been on an upward trend, gaining for the last three days and achieving a total return of 5.92% during this period. In the past week, the stock has outperformed the sector by 2.32% and has shown a return of 6.13%, while over the past month, it has risen by 11.37%. However, despite these short-term gains, the company faces significant challenges, including a negative book value and a weak long-term fundamental strength, as evidenced by a decline in net sales and operating profit over the last five years. The company has also reported negative results for the last three consecutive quarters, which raises concerns about its financial health.
In the broader market context, the stock's recent performance contrasts sharply with the benchmark Sensex, which has declined by 1.12% over the past week and remained nearly flat over the past month. While Nova Iron & Steel has shown positive short-term returns, its long-term performance remains concerning, with a year-to-date decline of 11.73% compared to the Sensex's increase of 5.58%. This juxtaposition highlights the stock's volatility and the risks associated with its high debt levels and negative operating profits, which could deter long-term investors despite the recent price uptick.