Why is Nova Iron &Steel falling/rising?

As of 18-Jul, Nova Iron & Steel Ltd's stock price is currently at 14.91, reflecting an increase of 0.4 or 2.76%. Despite today's positive movement, the stock has shown a negative performance over the past week, down 4.24%, and has significantly underperformed the benchmark Sensex, which has gained 0.38% over the past month. The stock's performance today has outperformed its sector by 3.17%, although it is trading below its 5-day and 200-day moving averages. Additionally, there has been a decline in investor participation, with delivery volume falling by 4.28% compared to the 5-day average. The company faces challenges, including a negative book value, high debt levels, and poor long-term growth, which have contributed to a weak fundamental outlook.
In the broader market context, while Nova Iron & Steel's stock has risen slightly today, its year-to-date performance remains concerning, with a decline of 15.48% compared to a 4.63% increase in the Sensex. The stock has also underperformed significantly over the past year, with a return of -34.35% against the benchmark's modest gain of 0.51%. The company's negative results over the last three quarters and its high debt-to-equity ratio further exacerbate its risk profile, making it a less attractive investment compared to the overall market performance.