Why is Nova Iron &Steel falling/rising?

As of 28-Aug, Nova Iron & Steel Ltd's stock price is currently at 14.70, reflecting an increase of 0.21, or 1.45%. The stock has shown a trend reversal by gaining after three consecutive days of decline, outperforming its sector by 4.08%. However, despite this recent uptick, the stock has underperformed over the past week with a decline of 3.61% compared to the Sensex's drop of 2.34%. The company faces significant challenges, including a negative book value and a weak long-term fundamental strength, as evidenced by a 20.60% decline in net sales and a 114.2% fall in profits over the past year.
Broader market context indicates that while the stock has seen a slight recovery today, its year-to-date performance remains poor, with a decline of 16.67% compared to a 2.48% increase in the Sensex. The broader market has also experienced negative returns, but Nova Iron & Steel's performance has been significantly worse, with a one-year return of -31.15% against the market's -5.01%. This stark contrast highlights the stock's ongoing struggles, particularly in light of its high debt levels and negative operating profits, which contribute to its perception as a risky investment.