Why is Sh.Renuka Sugar falling/rising?

As of 14-Aug, Shree Renuka Sugars Ltd is experiencing a decline in its stock price, currently at 28.08, which reflects a decrease of 0.06 or 0.21%. The stock has been on a downward trend, losing value for the last eight consecutive days and showing a total decline of 6.56% during this period. Over the past week, the stock has underperformed significantly, with a return of -3.64%, while the benchmark Sensex has remained relatively flat at -0.03%. Additionally, the company is trading below all its moving averages, indicating a bearish trend. The company's financial health is concerning, with a negative book value, high debt levels, and reported losses, which contribute to its weak long-term fundamental strength and make it a strong sell.
In the broader market context, Shree Renuka Sugars has consistently underperformed against the benchmark, with a staggering -39.14% return over the last year compared to the Sensex's positive return of 1.89%. This underperformance is compounded by the fact that domestic mutual funds hold only a minimal stake in the company, suggesting a lack of confidence in its future prospects. The stock's liquidity appears adequate for trading, but the overall sentiment remains negative due to the company's financial struggles and the significant risk associated with its current valuation.