Why is Simbhaoli Sugar falling/rising?

As of 24-Sep, Simbhaoli Sugars Ltd is experiencing a decline in its stock price, currently at 13.36, which reflects a decrease of 0.47 or 3.4%. The stock has been underperforming, having fallen consecutively for the last three days with a total drop of 4.64%. It is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Additionally, the stock has shown poor performance over various periods, with a year-to-date decline of 29.35% and a staggering 48.58% drop over the past year. The company's financial health is concerning, as it has a negative book value, high debt levels, and has reported significant losses in recent quarters, which contributes to its weak long-term fundamental strength.
In the broader market context, Simbhaoli Sugars has underperformed compared to the Sensex, which has shown a slight gain of 4.58% year-to-date. The stock's performance over the past week has also been notably poor, with a decline of 6.51% compared to the Sensex's drop of only 1.18%. While there has been a rise in investor participation, indicated by a 104.48% increase in delivery volume, the overall sentiment remains negative due to the company's weak financial results and ongoing losses. This combination of factors suggests that the stock's decline is driven by both its specific financial challenges and a broader market environment that does not favor its recovery.