Why is SBEC Sugar falling/rising?

As of 30-Sep, SBEC Sugar Ltd's stock price is currently at Rs. 33.79, reflecting a decline of Rs. 1.08 or 3.1%. The stock has recently hit a new 52-week low of Rs. 33.13 and has been on a downward trend, losing 6.53% over the last two days. In terms of performance, the stock has underperformed its sector by 2.93% today and has shown significant declines over various periods, including a 17.18% drop over the past month and a staggering 42.24% decline year-to-date. The company's financial health is concerning, with negative book value and a high debt-to-equity ratio, which has contributed to its weak long-term fundamentals. Recent financial results indicate a sharp decline in net sales and profits, further exacerbating investor sentiment.
In the broader market context, SBEC Sugar's recent performance contrasts sharply with the benchmark Sensex, which has only fallen by 2.23% over the past week. This stark difference highlights the stock's significant underperformance, particularly as it has generated a return of -46.24% over the last year compared to the Sensex's decline of 4.78%. The falling investor participation, with a 54.51% drop in delivery volume, suggests a lack of confidence among investors, further pressuring the stock price. Overall, the combination of poor financial performance, negative investor sentiment, and underperformance relative to the market has led to the stock's current decline.