Why is Sh.Renuka Sugar falling/rising?

As of 18-Aug, Shree Renuka Sugars Ltd is experiencing a price increase, currently at 28.58, with a change of 0.5, representing a rise of 1.78%. Today, the stock has outperformed its sector by 2.3% and has gained after eight consecutive days of decline. However, despite this short-term rebound, the stock has shown a significant underperformance over the past month, down 10.49%, and a year-to-date decline of 27.55%. The company faces serious challenges, including a negative book value and a high debt-to-equity ratio of 2.30 times, which raises concerns about its long-term viability. Additionally, the company reported a quarterly loss of Rs -263.00 crore, indicating ongoing financial struggles that could deter investor confidence.
In the broader market context, the stock's recent performance contrasts with the benchmark, as it has underperformed the Sensex, which is up 0.83% over the past week. The stock's liquidity remains adequate for trading, but the falling investor participation, with a delivery volume decrease of 35.96% against the five-day average, suggests waning interest. The consistent underperformance against the benchmark over the last three years, coupled with the lack of significant domestic mutual fund investment, indicates that investors may be cautious about the stock's future prospects. Overall, while there is a slight uptick in price, the underlying fundamentals and market sentiment remain concerning.