Why is Elgi Rubber Co falling/rising?

As of 30-Jun, Elgi Rubber Company Ltd's stock price is currently at Rs 60.60, reflecting a decrease of Rs 1.3 or 2.1%. The stock has underperformed its sector by 2.13% today and has experienced a trend reversal after four consecutive days of gains. Over the past eight weeks, the stock has fallen consistently, generating a total return of -100% during this period. Additionally, the stock has shown a significant decline in its monthly performance, falling every month for the last six weeks. The company's operating losses and weak long-term fundamental strength, highlighted by a high Debt to EBITDA ratio and poor growth in net sales and operating profit, contribute to the negative sentiment surrounding the stock.
In comparison to the benchmark Sensex, which has increased by 2.18% over the past week, Elgi Rubber's stock has risen by 15.60% in the same timeframe, indicating a strong short-term performance despite the recent decline. However, the stock's year-to-date performance is concerning, with a decline of 55.46% against the Sensex's gain of 7.92%. The stock's erratic trading pattern and the negative results reported in March, including a significant fall in PAT and operating profit to interest ratio, further exacerbate the risks associated with investing in Elgi Rubber, making it a risky proposition in the current market environment.