Why is Apollo Tyres falling/rising?

As of 02-Jul, Apollo Tyres Ltd. is experiencing a price increase, with its current price at 466.65, reflecting a rise of 18.75 or 4.19%. Today's performance indicates that the stock has outperformed its sector by 1.34%, reaching an intraday high of Rs 470.9, which is a 5.14% increase. However, despite this positive movement, the stock has shown a decline of 1.04% over the past month and a significant drop of 11.88% year-to-date. The company has a low Debt to EBITDA ratio of 1.46 times, indicating a strong ability to service debt, and it has demonstrated healthy long-term growth with an annual operating profit increase of 21.67%. Nonetheless, the stock has underperformed in the last year with a return of -12.87%, coinciding with a 30% decline in profits, and has declared negative results for the last four consecutive quarters.
In the broader market context, Apollo Tyres' short-term return of +3.42% over the past week contrasts with the Sensex's gain of only +0.79%, showcasing its relative strength in the short term. However, the stock's longer-term performance remains concerning, as it has underperformed the market significantly over the past year, where the BSE500 has generated returns of 3.11%. The falling investor participation, with a delivery volume drop of 62.58% against the 5-day average, raises concerns about liquidity and investor confidence. Despite high institutional holdings at 41.51%, which typically indicates a more informed investor base, the overall negative sentiment stemming from consecutive poor quarterly results may overshadow the recent price increase.