Why is Alok Industries falling/rising?

As of 08-Jul, Alok Industries Ltd is experiencing a price increase, currently at Rs 22.16, reflecting a rise of 2.09 or 10.41%. The stock has shown a notable performance today, outperforming its sector by 8.58% and marking a trend reversal after three consecutive days of decline. It reached an intraday high of Rs 23.5, indicating strong intraday trading activity. However, despite this positive movement, the stock has a negative long-term outlook due to a weak fundamental strength characterized by a negative book value, high debt levels, and poor growth in net sales and operating profit over the past five years. Additionally, the company has reported negative results for the last four quarters, which has contributed to a significant underperformance compared to the broader market over the past year.
In the broader market context, Alok Industries has outperformed the Sensex in the short term, with a weekly return of 8.52% compared to a mere 0.02% for the benchmark. However, the stock's year-to-date performance of 5.32% lags behind the Sensex's 7.13%. This disparity highlights the challenges the company faces despite its recent price increase. The declining investor participation, as evidenced by a 26.79% drop in delivery volume, raises concerns about the sustainability of the stock's upward movement. Overall, while the stock is currently rising, its long-term prospects remain uncertain due to ongoing financial struggles and a lack of confidence from institutional investors.