Why is Sh.Renuka Sugar falling/rising?

As of 21-Aug, Shree Renuka Sugars Ltd is experiencing a decline in its stock price, currently at 29.42, which reflects a decrease of 0.48 or 1.61%. The stock has underperformed its sector by 1.53% today and has reversed its trend after three consecutive days of gains. Although the stock is currently above its 5-day moving averages, it remains below its 20-day, 50-day, 100-day, and 200-day moving averages. Over the past week, the stock has shown a positive return of 4.77%, but it has significantly underperformed over longer periods, with a year-to-date decline of 25.42% and a one-year drop of 38.70%. The company's negative book value and high debt-to-equity ratio indicate weak long-term fundamentals, contributing to investor concerns. Additionally, the reported losses and negative net worth signal potential challenges ahead, making the stock a risky investment.
In the broader market context, while the Sensex has gained 1.74% over the past week, Shree Renuka Sugars Ltd's performance has been notably weaker, highlighting its consistent underperformance against the benchmark. The stock's long-term returns have also lagged behind the BSE500 index over the last three years, further emphasizing its struggles. Despite a recent increase in investor participation, as indicated by a 24.59% rise in delivery volume, the overall sentiment remains cautious due to the company's financial instability and the limited interest from domestic mutual funds, which hold only 0.45% of the company. This combination of factors contributes to the stock's current downward trajectory.