Why is Colorchips New falling/rising?

As of 15-Sep, Colorchips New Media Ltd's stock price is currently at Rs 16.36, reflecting an increase of Rs 1.07, or 7.0%. The stock has shown strong performance today, outperforming its sector by 7.52% and has gained 8.34% over the last two days. It opened with a significant gain of 17.33% and reached an intraday high of Rs 17.94. However, despite this positive movement, the company faces challenges such as operating losses and weak long-term fundamental strength, indicated by a poor EBIT to Interest ratio of 0.03 and a low return on equity of 1.45%. Additionally, the stock has consistently underperformed against benchmarks over the past three years, generating a return of -15.19% in the last year.
In the broader market context, the stock's short-term return of +7.70% over the past week significantly outpaces the Sensex's gain of +1.24%. However, the stock's year-to-date performance remains concerning, with a decline of -38.10% compared to the Sensex's increase of +4.67%. This disparity highlights the stock's volatility and the challenges it faces despite recent gains. The overall market sentiment appears cautious, especially given the company's weak profitability and declining investor participation, which may temper enthusiasm for its recent price increase.