Why is Eastern Treads falling/rising?

As of 24-Sep, Eastern Treads Ltd is experiencing a rise in its stock price, currently at Rs 30.72, which reflects an increase of Rs 1.27 or 4.31%. The stock has shown a positive trend recently, gaining 5.89% over the last two days and outperforming its sector by 3.59% today. Despite this short-term gain, the stock has underperformed significantly over longer periods, with a year-to-date decline of 19.14% and a one-year drop of 31.72%. The company reported positive quarterly results with the highest net sales and profit after tax figures, which may have contributed to the recent uptick in stock price. However, the company also faces challenges, such as a negative book value and weak long-term growth, with net sales declining at an annual rate of 1.86% over the past five years.
In the broader market context, while Eastern Treads has shown some short-term resilience, it has consistently underperformed against the benchmark, with a three-year return of -20.82% compared to the Sensex's 40.65% gain. The stock's recent performance contrasts with the benchmark's slight gain of 0.50% over the past month, highlighting the ongoing struggles of Eastern Treads in a generally improving market. Additionally, the falling investor participation, as indicated by a significant drop in delivery volume, suggests that investor confidence may be waning despite the recent price increase. Overall, while the stock is rising in the short term, its long-term fundamentals and relative performance against the market remain concerning.