Why is Aplab falling/rising?

As of 30-Jun, Aplab Ltd's stock price is currently at Rs 47.99, reflecting an increase of Rs 1.35, or 2.89%. The stock has shown a strong performance recently, gaining 21.03% over the last six days and outperforming its sector by 3.56% today. It opened with a notable gain of 3.77% and reached an intraday high of Rs 48.4. However, despite this recent uptick, the stock has underperformed over the longer term, with a year-to-date decline of 42.17% and a staggering 49.47% drop over the past year. Positive quarterly results, including the highest net sales and profit after tax, have contributed to the recent rise, but the company faces significant challenges, including high debt levels and negative EBITDA, which raise concerns about its long-term viability.
In the broader market context, Aplab's short-term performance contrasts sharply with the benchmark, as it has gained 20.49% over the past week compared to the Sensex's 2.09% increase. However, the stock's long-term trajectory remains troubling, with a -49.47% return over the past year against the Sensex's positive 5.79% return. The high percentage of pledged promoter shares adds to the risk, particularly in a declining market, potentially exerting downward pressure on the stock price. Overall, while recent gains may indicate a temporary rebound, the underlying financial weaknesses and market conditions suggest caution for investors.