Why is Anik Industries falling/rising?

As of 25-Aug, Anik Industries Ltd is experiencing a price increase, currently at Rs 96.45, reflecting a rise of Rs 2.51 or 2.67%. Today's price summary indicates that the stock initially opened lower, down by 3.61%, but later reached an intraday high of Rs 96.95, showcasing a recovery. Over the past week, the stock has outperformed its sector by 2.8%, and despite a year-to-date decline of 16.31%, it has shown a strong annual return of 31.22%. The company has reported positive results over the last four consecutive quarters, with net sales growing by 44.14% and a higher profit after tax, which may contribute to the recent upward movement in stock price. However, the stock's long-term fundamentals are weak, with a significant decline in net sales growth over the past five years and a low return on equity, indicating potential concerns for investors.
In the broader market context, the stock's short-term performance has significantly outpaced the benchmark, with a 7.05% increase over the past week compared to a mere 0.45% rise in the Sensex. This suggests that while the stock is currently gaining traction, the overall market has not been as favorable. The company's ability to generate returns despite a negative market backdrop, where the BSE500 has seen a decline of 2.11% over the last year, highlights its resilience. However, the weak long-term fundamentals and high valuation compared to peers may pose risks that could impact future performance.