Why is Acknit Indus. falling/rising?

As of 07-Jul, Acknit Industries Ltd is experiencing a price increase, currently at 305.00, reflecting a change of 4.0 (1.33%) upward. The stock has shown strong performance today, outperforming its sector by 1.99% and opening with a gain of 4.49%. It reached an intraday high of Rs 314.5. Over the past week, the stock has risen by 7.87%, while over the past month, it has increased by 22.96%. Additionally, the stock is trading above its moving averages across various time frames, indicating positive momentum. The recent increase in promoter stake by 3.79% signals confidence in the company's future, despite a modest return of -1.09% over the past year and a high Debt to EBITDA ratio of 2.69 times.
Broader Market Context: In comparison to the benchmark Sensex, which has seen a slight decline of 0.20% over the past week, Acknit Industries Ltd's performance stands out positively. The stock's strong short-term returns, particularly its 7.87% gain over the last week, contrast sharply with the benchmark's performance, highlighting its relative strength in the market. This divergence suggests that investor sentiment towards Acknit Industries is favorable, likely driven by the company's attractive valuation metrics and rising investor participation, despite some concerns regarding its long-term fundamental strength.