Why is Nova Iron &Steel falling/rising?

As of 09-Sep, Nova Iron & Steel Ltd's stock is currently priced at 15.05, reflecting an increase of 0.4 or 2.73%. The stock has shown a positive trend recently, having outperformed its sector by 2.2% today and achieving a consecutive gain over the last two days with a total return of 6.44%. Additionally, the stock has performed well over the past week and month, with returns of 3.37% and 4.88%, respectively. However, the company faces significant challenges, including a negative book value and weak long-term fundamentals, as evidenced by a 20.60% decline in net sales and a negative profit after tax. The high debt levels and poor operating profits further contribute to the stock's risky profile, despite the recent uptick in investor participation and liquidity.
In the broader market context, Nova Iron & Steel's short-term performance has been notably better than the benchmark, with a 1-week return of 3.37% compared to the Sensex's 1.18%. However, the stock has underperformed significantly over the longer term, with a year-to-date decline of 14.68% against the Sensex's gain of 3.79%. This stark contrast highlights the stock's volatility and the challenges it faces in maintaining investor confidence, especially given its historical performance and the broader market's relatively stable returns.