Why is Zenith Steel falling/rising?

As of 08-Jul, Zenith Steel Pipes & Industries Ltd is currently priced at 7.90, reflecting a slight increase of 0.02 or 0.25%. The stock has shown a trend reversal, gaining after two consecutive days of decline. However, despite this uptick, the stock has underperformed in the short term, with a 1-week return of -2.11% compared to a marginal increase of +0.02% in the Sensex. Additionally, the stock's delivery volume has significantly decreased by 84.99% against its 5-day average, indicating falling investor participation. The company faces challenges, including a negative book value and high debt levels, which contribute to its weak long-term fundamental strength. Despite a recent increase in stock price, the overall negative financial indicators, including a substantial decline in net sales and profits, suggest underlying weaknesses.
In the broader market context, while Zenith Steel has outperformed its sector by 0.51% today, its longer-term performance remains concerning, with a year-to-date return of -1.62% compared to the Sensex's gain of +7.13%. Over the past year, the stock has significantly underperformed the market, generating a return of -40.60% against a 4.69% increase in the Sensex. This stark contrast highlights the stock's volatility and the risks associated with its current valuation, as it trades at levels that are considered risky compared to historical averages. Overall, the combination of short-term gains amidst long-term struggles paints a complex picture for investors considering Zenith Steel.