Why is Sh.Renuka Sugar falling/rising?

As of 20-Aug, Shree Renuka Sugars Ltd's stock price is currently at 29.90, reflecting an increase of 0.46 (1.56%). The stock has shown a positive trend recently, gaining for the last three days and achieving a total return of 6.48% during this period. Additionally, it has outperformed its sector by 0.32%. However, despite this short-term gain, the company faces significant 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. The company has reported substantial losses, with a PAT of Rs -263.00 crore, and its net sales growth has been weak at an annual rate of 13.79% over the last five years. These factors contribute to a perception of risk among investors, which may limit the stock's upward momentum.
In the broader market context, Shree Renuka Sugars has outperformed the Sensex in the short term, with a 1-week return of +6.25% compared to the Sensex's +1.64%. However, the stock has consistently underperformed against the benchmark over the past year, with a return of -38.34% compared to the Sensex's +1.31%. This underperformance, coupled with the company's weak fundamentals and low domestic mutual fund holdings, suggests that while there may be short-term gains, the long-term outlook remains precarious, potentially leading to continued volatility in its stock price.