Why is Sh.Renuka Sugar falling/rising?

As of 28-Aug, Shree Renuka Sugars Ltd is experiencing a decline in its stock price, currently at 28.70, reflecting a decrease of 0.51 or 1.75%. The stock has underperformed its sector by 1.62% today and has been on a consecutive downward trend for the last two days, with a total decline of 2.35%. Over the past week, the stock has decreased by 2.45%, and its year-to-date performance shows a significant drop of 27.25%. The company is facing challenges, including a negative book value and a high debt-to-equity ratio of 2.30, which contribute to its weak long-term fundamental strength. Recent financial reports indicate a substantial fall in net sales and profits, with net sales down by 34.17% and a reported loss of Rs 263.00 crore, further signaling distress for investors.
In the broader market context, the stock's performance has consistently lagged behind the benchmark, with a one-year return of -40.07% compared to the Sensex's -2.08%. This underperformance is consistent over the last three years, indicating a lack of investor confidence, as evidenced by the minimal stake held by domestic mutual funds at only 0.45%. Despite a rise in delivery volume, the overall sentiment remains negative due to the company's financial instability and the risk associated with its current valuation. The stock's liquidity is adequate for trading, but the persistent losses and negative net worth raise concerns about its future sustainability.