Why is Sh.Renuka Sugar falling/rising?

As of 11-Jun, Shree Renuka Sugars Ltd's stock price is currently at 34.72, reflecting an increase of 0.57 or 1.67%. The stock has shown a positive trend recently, gaining 5.66% over the last three days and outperforming its sector by 1.39%. Additionally, the stock has performed well in the short term, with a 4.77% increase over the past week and a significant 26.67% rise over the last month. However, despite these short-term gains, the company faces challenges such as a negative book value and high debt levels, which contribute to its weak long-term fundamental strength. The recent growth in profit after tax by 182% and the highest operating profit to interest ratio at 1.52 times are positive indicators, but the overall negative net worth and consistent underperformance against benchmarks raise concerns for investors.
In the broader market context, Shree Renuka Sugars Ltd has outperformed the Sensex in the short term, with a 4.77% return over the past week compared to the benchmark's 1.87%. However, the stock has struggled over the longer term, with a year-to-date decline of 11.99% against the Sensex's 5.60% increase. The stock's technical indicators suggest a mildly bearish trend, and the low participation from domestic mutual funds, holding only 0.42%, indicates a lack of confidence in the company's valuation. Overall, while recent performance shows some positive momentum, the underlying financial challenges and historical underperformance may limit sustained growth.