Why is Acknit Indus. falling/rising?

As of 29-Aug, Acknit Industries Ltd is experiencing a price increase, currently at Rs 296.50, reflecting a rise of Rs 16.35 or 5.84%. Today's price summary indicates that the stock outperformed its sector by 6.54% and opened with a gain of 3.52%. After two consecutive days of decline, the stock has shown a trend reversal, reaching an intraday high of Rs 299, which is a 6.73% increase. However, it is important to note that the stock has underperformed in the longer term, with a year-to-date return of -2.79% and a one-year return of -1.45%. Despite this, the stock is trading at a discount compared to its peers, and its attractive valuation, indicated by a return on capital employed (ROCE) of 11.8%, may be contributing positively to its recent price movement.
In the broader market context, the stock's short-term performance has been slightly better than the benchmark, with a one-week return of -1.82% compared to the Sensex's -1.84%. While the stock has shown some positive movement today, the overall trend indicates weak long-term fundamental strength, as evidenced by a high debt-to-EBITDA ratio and declining profits. The company's recent financial results have also been disappointing, with a significant drop in net sales and profit after tax. This combination of short-term gains amidst a backdrop of longer-term challenges may create a mixed sentiment among investors regarding the stock's future performance.