Why is Sh.Renuka Sugar falling/rising?

As of 19-Aug, Shree Renuka Sugars Ltd's stock price is currently at 29.44, reflecting an increase of 0.86 or 3.01%. The stock has shown a positive trend recently, gaining 4.84% over the last two days and outperforming its sector by 1%. However, despite this short-term gain, the stock has experienced a significant decline of 25.37% year-to-date and 37.88% over the past year. The company faces serious challenges, including a negative book value, high debt levels, and reported losses, which contribute to its weak long-term fundamental strength. The stock's performance is further hindered by a low level of domestic mutual fund investment, indicating a lack of confidence among institutional investors.
In the broader market context, the stock's recent performance has outpaced the benchmark Sensex, which has only increased by 1.76% over the past week. However, the stock's long-term performance remains concerning, as it has consistently underperformed against the benchmark over the last three years. The sugar sector, in general, has seen a gain of 2.28%, which may provide some support to Shree Renuka Sugars Ltd's recent price increase. Nevertheless, the overall negative sentiment surrounding the company's financial health and its substantial losses could limit any sustained upward movement in its stock price.