Why is Acknit Indus. falling/rising?

As of 30-Jun, Acknit Industries Ltd is experiencing a rise in its stock price, currently at Rs 282.75, reflecting an increase of Rs 8.8 or 3.21%. The stock has shown strong performance today, outperforming its sector by 2.37% and achieving a consecutive gain over the last two days with a total return of 6.3%. It has also been trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating positive momentum. Despite a year-to-date decline of 7.30% and a one-year drop of 8.78%, the stock has performed well in the short term, with a 10.02% increase over the past month and an 8.75% rise over the past week. The recent increase in promoter stake by 3.79% signals rising confidence in the company's future, which may be contributing to the stock's upward movement.
In the broader market context, while the Sensex has generated a return of 2.09% over the past week and 2.65% over the past month, Acknit Industries has significantly outperformed these benchmarks in the same periods. However, it is important to note that the stock has underperformed the market over the past year, where the BSE 500 index returned 3.95%. The company's weak long-term fundamentals, indicated by a high Debt to EBITDA ratio and a modest CAGR growth in operating profits, may temper investor enthusiasm despite the recent positive price movement.