Why is Apollo Tyres falling/rising?

As of 08-Jul, Apollo Tyres Ltd. is experiencing a rise in its stock price, currently at Rs 471.70, reflecting an increase of Rs 11.7 or 2.54%. The stock has shown positive momentum, gaining 2.6% over the last two days and outperforming its sector by 1.02%. Additionally, it has been trading above its moving averages across various time frames, indicating a bullish trend. However, despite this recent uptick, the stock has underperformed over the past year with a return of -9.98%, while its profits have declined by 30%. The company has a low Debt to EBITDA ratio, suggesting a strong ability to service debt, and high institutional holdings at 41.51% may provide some stability.
In the broader market context, Apollo Tyres has outperformed the Sensex in the short term, with a weekly return of +5.31% compared to the benchmark's negligible gain of +0.02%. However, the stock's year-to-date performance remains concerning, with a decline of -10.92% against the Sensex's increase of 7.13%. The company's recent negative results over the last four quarters and a low debtors turnover ratio indicate underlying challenges that could affect investor sentiment moving forward. Despite the recent gains, the overall trend suggests caution, as the stock continues to grapple with significant negative returns over the longer term.