Why is SBEC Sugar falling/rising?

As of 11-Jul, SBEC Sugar Ltd is experiencing a decline in its stock price, currently at 50.67, which reflects a decrease of 1.03 or 1.99%. The stock has been on a downward trend, having fallen consecutively for the last 12 days, resulting in a total decline of 21.06% during this period. Additionally, the stock has underperformed its sector by 1.71% today. Over the past week, SBEC Sugar has seen a significant drop of 9.57%, and its year-to-date performance shows a decline of 13.38%. Despite reporting positive results in March 2025, including a notable increase in net sales and operating profit, the company is facing challenges such as a negative book value and a high debt-to-equity ratio, which contribute to its weak long-term fundamental strength.
In the broader market context, the stock's performance has been notably poor compared to the benchmark, with the Sensex showing only a slight decline of 1.12% over the past week and a positive return of 5.58% year-to-date. This stark contrast highlights the stock's underperformance, especially given that it has generated a return of -35.32% over the past year while the broader market has seen a modest gain. Furthermore, foreign institutional investors (FIIs) have completely exited their holdings in the company, indicating a lack of confidence in its future prospects. The combination of these factors suggests that SBEC Sugar is struggling to attract investor interest, leading to its declining stock price.