Why is Acknit Indus. falling/rising?

As of 10-Jun, Acknit Industries Ltd is experiencing a price increase, currently at Rs 268.90, which reflects a rise of Rs 22.8 or 9.26%. The stock has outperformed its sector today by 9.01%, reaching an intraday high of Rs 268.90. Over the past week, the stock has shown a return of +8.43%, and +19.78% over the last month, indicating a strong short-term performance despite a year-to-date decline of -11.84%. Positive factors contributing to this rise include a significant increase in promoter confidence, with a 3.79% increase in their stake, and an attractive valuation compared to peers. However, the stock's long-term fundamentals remain weak, highlighted by a high Debt to EBITDA ratio and a negative return over the past year.
Broader market context shows that while Acknit Industries has outperformed its sector recently, it has underperformed the broader market over the last year, with a return of -16.97% compared to the Sensex's +7.72%. The stock's recent performance is bolstered by rising investor participation, as evidenced by a substantial increase in delivery volume. Despite these positive short-term indicators, the stock's technical indicators suggest a mildly bearish outlook, which may temper investor enthusiasm moving forward.