Why is Sh.Renuka Sugar falling/rising?

As of 31-Jul, Shree Renuka Sugars Ltd is experiencing a decline in its stock price, currently at 30.06, reflecting a decrease of 0.61 or 1.99%. The stock has underperformed its sector by 1.32% today and has fallen after two consecutive days of gains. It is trading below all key moving averages, indicating a bearish trend. Additionally, the delivery volume has decreased significantly, falling by 34.11% compared to the 5-day average. Over the past week, the stock has dropped by 4.57%, and it has shown a substantial decline of 41.04% over the past year, highlighting a consistent underperformance against the benchmark indices. Despite a notable increase in quarterly profit after tax and operating profit, the company’s negative book value and high debt levels raise concerns about its long-term viability, contributing to the stock's recent downward movement.
In the broader market context, the stock's short-term performance has been notably worse than the benchmark, with a 1-week decline of 4.57% compared to the Sensex's drop of only 1.22%. This consistent underperformance against the benchmark over the last three years, coupled with a negative net worth and weak long-term growth prospects, suggests that investors are cautious about the stock's future. The minimal stake held by domestic mutual funds further indicates a lack of confidence in the company's valuation and business outlook, reinforcing the perception of risk associated with investing in Shree Renuka Sugars Ltd at this time.