Why is Zenith Steel falling/rising?

As of 09-Jul, Zenith Steel Pipes & Industries Ltd is currently priced at 7.70, reflecting a decline of 0.2, or 2.53%. The stock has underperformed its sector today by 1.81%, and its delivery volume has significantly decreased by 58.06% compared to the 5-day average, indicating falling investor participation. Over the past week, the stock has dropped by 2.90%, while it has shown a modest gain of 6.35% over the past month. However, the longer-term performance remains concerning, with a year-to-date decline of 4.11% and a staggering drop of 39.08% over the past year. The company is facing significant challenges, including a negative book value and high debt levels, which contribute to its weak long-term fundamental strength. Recent financial results have also been disappointing, with net sales falling by 42.36% and a negative EBITDA, further impacting investor sentiment.
In the broader market context, the stock's recent performance contrasts sharply with the benchmark Sensex, which has gained 0.15% over the past week and 6.91% year-to-date. While Zenith Steel has shown some recovery in the past month, its overall returns have lagged behind the benchmark significantly, particularly over the last year and three years. This underperformance, coupled with the company's poor financial health and high debt-to-equity ratio, suggests that investors are cautious, contributing to the stock's downward movement. The combination of these stock-specific factors and the broader market trends indicates a challenging environment for Zenith Steel, leading to its current price decline.