Why is Sh.Renuka Sugar falling/rising?

As of 07-Nov, Shree Renuka Sugars Ltd is experiencing a decline in its stock price, currently at Rs 27.86, reflecting a decrease of -1.06 or -3.67%. The stock has underperformed its sector by 3.1% today and has been on a downward trend for the last three days, accumulating a total loss of -6.16%. The stock has also touched an intraday low of Rs 27.32, indicating significant selling pressure. Over the past week, the stock has fallen by -5.66%, and its year-to-date performance shows a substantial decline of -29.38%. The company has reported negative results for the last two consecutive quarters, with a significant drop in profit after tax and negative operating profits, which raises concerns about its long-term viability. Additionally, the company's negative book value and high debt levels contribute to a weak fundamental outlook, further pressuring the stock price.
In the broader market context, the stock's short-term performance has been notably worse than the benchmark, with the Sensex only declining by -0.86% over the same week. This consistent underperformance against the benchmark over the last three years, coupled with a lack of confidence from domestic mutual funds, which hold only 0.35% of the company, suggests that investors are wary of the stock's prospects. The overall market sentiment appears to be cautious, particularly given the company's poor financial health and the recent negative trends in its operational performance.