Why is Sh.Renuka Sugar falling/rising?

As of 26-Aug, Shree Renuka Sugars Ltd is experiencing a decline in its stock price, currently at 29.21, reflecting a decrease of 0.18 or 0.61%. The stock has underperformed against the sector, despite outperforming it today by 1.52%. However, it is trading lower than its moving averages across various time frames, indicating a bearish trend. Over the past week, the stock has fallen by 0.78%, and its year-to-date performance shows a significant decline of 25.96%. The company is facing serious challenges, including a negative book value, high debt levels, and substantial losses, with net sales dropping by 34.17% and a reported loss of Rs 263.00 crore in the latest quarter. These factors contribute to a weak long-term outlook, making the stock a risky investment.
In the broader market context, the Sensex has decreased by 1.05% over the past week, which is slightly better than the stock's performance. However, the stock's year-to-date decline of 25.96% starkly contrasts with the Sensex's positive return of 3.39%. The consistent underperformance against the benchmark over the last three years, coupled with a low stake from domestic mutual funds, suggests a lack of confidence in the company's future prospects. The overall sentiment in the sugar sector is also negative, with a decline of 2.26%, further impacting Shree Renuka Sugars Ltd's stock price.