Why is Sh.Renuka Sugar falling/rising?

As of 01-Aug, Shree Renuka Sugars Ltd is experiencing a decline in its stock price, currently at 29.96, reflecting a change of -0.1 (-0.33%). The stock has been underperforming recently, with a consecutive fall over the last two days resulting in a total decline of -2.31%. In terms of returns, the stock has shown a significant downturn, with a -2.98% return over the past week and a -9.49% return over the past month. Despite a notable increase in PAT for the quarter and strong operating profit metrics, the company faces challenges such as a negative book value and high debt levels, which contribute to its weak long-term fundamental strength. This negative outlook is further compounded by the stock's consistent underperformance against benchmarks, generating a -38.61% return over the past year.
In the broader market context, the stock's short-term performance has been notably worse than the benchmark, with the Sensex showing only a -1.06% decline over the past week. This stark contrast highlights the stock's ongoing struggles, as it has consistently underperformed against the BSE500 over the last three years. Additionally, the low stake held by domestic mutual funds, at only 0.45%, suggests a lack of confidence in the company's future prospects, further influencing investor sentiment negatively. Overall, the combination of poor long-term growth, high debt, and recent price declines indicates a challenging environment for Shree Renuka Sugars Ltd.