Why is Nova Iron &Steel falling/rising?

As of 25-Aug, Nova Iron & Steel Ltd's stock price is currently at 14.90, reflecting a decrease of 0.29, or 1.91%. The stock has underperformed its sector by 2.73% today and has experienced a consecutive decline over the past two days, resulting in a total drop of 2.3%. In terms of returns, the stock has shown a modest increase of 0.07% over the past week and 2.62% over the past month; however, it has significantly underperformed over the year, with a decline of 28.88%. The company is facing challenges, including a negative book value and weak long-term fundamentals, as evidenced by a 20.60% decrease in net sales and a negative profit after tax of Rs -4.69 crore for the last nine months. Additionally, the stock's liquidity is concerning, with a drastic drop in delivery volume by 90.81% compared to the five-day average.
In the broader market context, while the Sensex has gained 0.45% over the past week and 0.21% over the past month, Nova Iron & Steel's recent performance has been lackluster, particularly in comparison to the benchmark's positive returns. The stock's year-to-date performance shows a significant decline of 15.53%, contrasting sharply with the Sensex's gain of 4.48%. This disparity highlights the stock's struggles relative to the overall market, further compounded by its high debt levels and negative operating profits, which contribute to its perception as a risky investment.