Why is Sh.Renuka Sugar falling/rising?

As of 25-Sep, Shree Renuka Sugars Ltd is experiencing a decline in its stock price, currently at 31.21, reflecting a decrease of 0.36 or 1.14%. The stock's performance today is in line with its sector, but it is noteworthy that the delivery volume has fallen significantly by 38.5% compared to the 5-day average, indicating a drop in investor participation. Over the past week, the stock has decreased by 2.44%, while it has shown a modest increase of 6.19% over the past month. However, the company has reported negative financial metrics, including a 34.17% decline in net sales and a substantial loss in profit before tax, leading to concerns about its long-term viability due to a negative book value and high debt levels.
In the broader market context, the stock has underperformed against the benchmark, with a year-to-date return of -20.89% compared to the Sensex's 3.87% gain. This consistent underperformance over the last three years, coupled with the company's weak fundamentals, has likely contributed to the lack of confidence from domestic mutual funds, which hold only a minimal stake in the company. The overall sentiment in the market appears cautious, as the stock's risky profile and negative financial indicators overshadow its recent short-term gains.