Why is Nova Iron &Steel falling/rising?

As of 29-Aug, Nova Iron & Steel Ltd's stock price is currently at 14.70, showing no change (0.00%) from the previous trading session. The stock has experienced a decline of 3.23% over the past week and a 4.30% drop over the last month, with a year-to-date decrease of 16.67%. Despite being higher than the 50-day and 100-day moving averages, it remains lower than the 5-day, 20-day, and 200-day moving averages. The stock has seen a rise in investor participation, with delivery volume increasing by 46.89% against the 5-day average. However, the company faces significant challenges, including a negative book value and weak long-term fundamental strength, as evidenced by a 20.60% decline in net sales and a 114.2% drop in profits over the past year.
Broader market context indicates that Nova Iron & Steel has consistently underperformed against the benchmark, with a return of -29.67% over the past year compared to the Sensex's -2.83%. The stock's performance has been particularly poor over the last three years, where it has underperformed the BSE500 in each annual period. This consistent underperformance, coupled with high debt levels and negative operating profits, contributes to a perception of risk among investors, which may explain the stock's current stagnation in price despite some positive trading activity.