Why is SBEC Sugar falling/rising?

As of 18-Jul, SBEC Sugar Ltd's stock price is currently at Rs 47.88, reflecting an increase of Rs 2.25 or 4.93%. The stock has shown a positive trend recently, gaining 10.24% over the last two days and outperforming its sector by 5.13% today. It opened with a gain of 5% and reached an intraday high of Rs 47.91. However, the stock has experienced significant declines over longer periods, with a 1-month return of -17.68% and a year-to-date return of -18.15%. The company has reported positive results for the first quarter of 2025 after two consecutive negative quarters, with net sales growing by 26.6% and operating profit to interest at its highest level. Despite these positive indicators, the company faces challenges, including 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, while the Sensex has shown a slight positive return of 0.38% over the past month, SBEC Sugar's performance has been significantly worse, with a decline of -17.68%. This underperformance is further highlighted by its year-long return of -32.98%, compared to the market's negative return of -0.36%. The decrease in foreign institutional investors' holdings to 0% this quarter may also indicate a lack of confidence in the stock's future performance. Overall, while the stock has seen a short-term rise, its long-term outlook remains uncertain due to fundamental weaknesses and significant underperformance relative to the broader market.