Why is SBEC Sugar falling/rising?

As of 09-Jul, SBEC Sugar Ltd is experiencing a decline in its stock price, currently at 52.75, which reflects a decrease of 1.07 or 1.99%. The stock has been underperforming significantly, having fallen consecutively for the last 10 days, resulting in a total decline of 17.82% during this period. Additionally, the stock's performance over the past week shows a decrease of 9.57%, while its year-to-date return is down by 9.83%. Despite some positive quarterly results reported in March 2025, including a notable growth in net sales and operating profit, the overall sentiment remains negative due to a high debt-to-equity ratio and a negative book value, leading to a weak long-term fundamental strength.
In the broader market context, the stock's recent performance contrasts sharply with the benchmark, as it has underperformed the Sensex, which has gained 0.15% over the past week. The stock's negative trajectory is further compounded by the fact that foreign institutional investors (FIIs) have decreased their holdings to 0%, indicating a lack of confidence in the company's future prospects. While the stock has shown some positive investor participation with a rise in delivery volume, the overall market sentiment and the company's financial challenges suggest that the stock is viewed as risky, contributing to its decline in price.