Why is Nova Iron &Steel falling/rising?

As of 14-Jul, Nova Iron & Steel Ltd's stock price is currently at 14.96, reflecting a decline of 0.61, or 3.92%. The stock has recently underperformed its sector by 3.79% and has experienced a trend reversal, falling after three consecutive days of gains. In terms of returns, the stock has shown a modest increase of 0.81% over the past week and a more significant rise of 9.12% over the past month. However, it has a troubling year-to-date performance, down 15.19%, and a stark decline of 31.19% over the past year. The company is facing significant challenges, including a negative book value and a weak long-term fundamental strength, as evidenced by negative results for the last three consecutive quarters and a high debt-to-equity ratio.
In the broader market context, while the Sensex has increased by 1.40% over the past month, Nova Iron & Steel's performance has lagged behind, indicating that the stock is not keeping pace with the overall market. The stock's liquidity appears sufficient for trading, but the negative operating profits and poor long-term growth prospects contribute to its risky profile. Despite a recent uptick in investor participation, the overall sentiment remains bearish due to the company's financial struggles, which are reflected in its substantial underperformance compared to the benchmark indices over various time frames.