Why is Chennai Meena falling/rising?

As of 07-Jul, Chennai Meenakshi Multispeciality Hospital Ltd's stock price is currently at 34.50, reflecting an increase of 0.55 or 1.62%. The stock has shown a positive trend recently, having outperformed its sector by 1.33% today and achieving a consecutive gain over the last three days, resulting in a total return of 6.15% during this period. However, despite these short-term gains, the company faces significant challenges, including a negative book value and weak long-term fundamentals, with net sales growing at only 6.20% annually and a drastic decline in operating profit. Additionally, the promoters have reduced their stake by 10.06%, indicating a potential lack of confidence in the company's future prospects.
In the broader market context, the stock has outperformed the Sensex over the past week, with a return of 2.99% compared to the benchmark's decline of 0.20%. However, the stock's year-to-date performance remains concerning, showing a decline of 17.86% against the Sensex's increase of 6.79%. The liquidity of the stock is adequate for trading, but a significant drop in delivery volume suggests decreasing investor participation, which could impact future price movements. Overall, while the stock is experiencing a short-term rise, the underlying financial weaknesses and reduced promoter confidence present significant risks that could affect its sustainability.