Why is Rish.Digh.Steel falling/rising?

As of 11-Aug, Rishabh Digha Steel & Allied Products Ltd is experiencing a decline in its stock price, currently at Rs 34.15, reflecting a decrease of 3.35 (-8.93%). Today's performance indicates significant volatility, with the stock opening up by 3.6% but later dropping to an intraday low of Rs 33.15, resulting in an overall underperformance against its sector by 9.22%. The stock has also shown a negative trend over the past week and month, with returns of -0.76% and -12.86%, respectively. Additionally, the company is facing operational challenges, including reported losses and a negative EBITDA, which contribute to its weak long-term fundamental strength and poor ability to service debt.
In the broader market context, Rishabh Digha Steel's recent performance has been notably worse than the benchmark, with the Sensex showing a decline of only 0.51% over the past week, compared to the stock's 0.76% drop. The company's long-term performance has also lagged behind, as evidenced by its negative returns over the past year of -12.23%, while the benchmark has gained 1.13%. This underperformance, coupled with falling investor participation and a weak financial outlook, positions the stock unfavorably in the current market environment.