Why is Apollo Tyres falling/rising?

As of 22-Aug, Apollo Tyres Ltd. is experiencing a price increase, currently at 466.55, reflecting a change of 2.65 or 0.57% upward. The stock has shown a positive trend today, outperforming its sector by 0.98% and reversing a two-day decline. It is trading above its moving averages across various time frames, indicating a bullish sentiment. However, there has been a notable decrease in investor participation, with delivery volume falling by 44.82% compared to the five-day average. Despite a year-to-date decline of 11.90%, the stock has performed well over the last three years, gaining 86.69%, and has a strong ability to service debt with a low Debt to EBITDA ratio of 1.46 times. Nevertheless, the company has faced challenges, including negative results for the last five consecutive quarters and a significant drop in profits over the past year.
In the broader market context, Apollo Tyres has outperformed the Sensex in the short term, with a one-week return of 7.81% compared to the benchmark's 0.88%. This indicates that while the stock is currently rising, it has struggled over the longer term, with a year-over-year return of -8.11% against the Sensex's slight gain of 0.31%. The stock's attractive valuation, supported by high institutional holdings at 41.38%, suggests confidence from knowledgeable investors, yet the recent negative financial results and rising raw material costs may temper enthusiasm. Overall, the stock's recent upward movement appears to be influenced by short-term recovery signals, despite underlying challenges.