Why is Apollo Tyres falling/rising?

As of 23-Sep, Apollo Tyres Ltd. is currently priced at 488.50, reflecting an increase of 1.35 (0.28%). The stock has been gaining for the last two days, with a total return of 2.22% during this period. It has outperformed its sector by 0.3% today and reached an intraday high of Rs 497.2, indicating positive momentum. The stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, which is a bullish signal. Additionally, the company demonstrates a strong ability to service debt with a low Debt to EBITDA ratio of 1.46 times, and it has shown healthy long-term growth with net sales increasing at an annual rate of 12.12%. However, despite a recent performance improvement, the stock has generated a return of -6.24% over the past year, with profits declining by -38.3%.
In the broader market context, Apollo Tyres has outperformed the Sensex over the past week, with a return of +0.35% compared to the benchmark's -0.34%. While the stock has shown resilience in the short term, it still lags behind the Sensex year-to-date, where it has a return of -7.75% against the benchmark's +5.07%. The high institutional holdings at 41.38% suggest that informed investors are backing the stock, which may contribute to its recent upward movement. Overall, the combination of positive short-term performance, strong fundamentals, and institutional support indicates a favorable outlook for Apollo Tyres, despite its recent struggles in the longer term.