Why is Nova Iron &Steel falling/rising?

As of 18-Sep, Nova Iron & Steel Ltd's stock price is currently at 14.88, reflecting an increase of 0.37 or 2.55%. Today's price summary indicates that the stock has outperformed its sector by 1.9% and has experienced a trend reversal, gaining after six consecutive days of decline. Despite this positive movement, the stock has shown poor performance over the longer term, with a year-to-date decline of 15.65% and a staggering 38.03% drop over the past year. The company faces significant challenges, including a negative book value and weak long-term fundamental strength, as evidenced by a lack of growth in net sales and operating profit over the last five years. Additionally, the company has a high debt-to-equity ratio and has reported negative operating profits, which contribute to its risky trading status.
In the broader market context, while Nova Iron & Steel's stock has seen a slight uptick today, it has underperformed compared to the Sensex, which has gained 1.80% over the past week and 2.14% over the past month. The stock's recent rise comes amid increased investor participation, with delivery volume rising significantly, suggesting some renewed interest. However, the overall trend remains concerning, as the stock has consistently underperformed against broader indices like the BSE500 over various time frames, indicating that while there may be short-term gains, the long-term outlook remains bleak.