Why is Sh.Renuka Sugar falling/rising?

As of 29-Aug, Shree Renuka Sugars Ltd is experiencing a decline in its stock price, currently at 28.34, which represents a decrease of 0.36 or 1.25%. The stock has underperformed its sector by 0.31% today and has been on a consecutive downward trend for the last three days, resulting in a total drop of 3.57% during this period. Over the past week, the stock has fallen by 2.24%, and it has shown significant underperformance over longer periods, with a year-to-date decline of 28.16% and a staggering 40.19% drop over the past year. The company is facing serious challenges, including a negative book value, high debt levels, and substantial losses in net sales and profits, which contribute to its weak long-term fundamental strength.
In the broader market context, the stock's recent performance contrasts sharply with the benchmark, as the Sensex has only declined by 1.84% over the past week and has gained 2.14% year-to-date. This consistent underperformance against the benchmark highlights the stock's struggles, particularly given that domestic mutual funds hold a mere 0.45% stake, indicating a lack of confidence in the company's prospects. The combination of falling investor participation, as evidenced by a 30.66% drop in delivery volume, and the company's ongoing financial difficulties further exacerbates the negative sentiment surrounding Shree Renuka Sugars Ltd.