Why is Aplab falling/rising?

As of 26-Jun, Aplab Ltd's stock price is currently at Rs 44.42, reflecting an increase of Rs 2.11 or 4.99%. The stock has been on an upward trend, gaining for the last four days and achieving a total return of 12.03% during this period. It opened with a gain of 3.76% today and reached an intraday high of Rs 44.42. Despite this positive movement, the stock has significantly underperformed over the past month and year, with returns of -43.41% and -53.62%, respectively. Positive quarterly results, including the highest net sales and profit after tax, have contributed to the recent rise, but the company faces challenges such as high debt levels and negative EBITDA, which indicate underlying weaknesses.
In the broader market context, Aplab's short-term performance of +6.45% over the past week has outpaced the Sensex, which gained +2.94% during the same period. However, the stock's long-term trajectory remains concerning, with a substantial decline of -46.47% year-to-date compared to the Sensex's +7.19% gain. The high debt-to-equity ratio and the fact that 29.42% of promoter shares are pledged add to the risk profile of the stock, suggesting that while there may be short-term gains, the long-term outlook is fraught with challenges that could impact future performance.