Why is Elgi Rubber Co falling/rising?

As of 23-Jul, Elgi Rubber Company Ltd is experiencing a significant price increase, currently priced at 58.00, reflecting a change of 49.21, or 559.84% upward. Despite this sharp rise, the stock has been underperforming in the longer term, having fallen every week for the last eight weeks and generating -100% returns during that period. The stock also did not trade on five out of the last twenty days, indicating erratic trading behavior. The company has reported operating losses and has a weak long-term fundamental strength, with net sales growing at a mere 0.91% annually and a concerning debt to EBITDA ratio of 20.49 times. Additionally, the latest financial results show a significant drop in profit after tax, which has fallen by -1040.1% compared to the previous four-quarter average.
In the broader market context, the stock's performance today has outperformed its sector by 3.37%, although it has not provided any returns over the past year. The Sensex, a benchmark index, has shown a slight increase of 0.03% over the past week and 0.99% over the past month, indicating a relatively stable market environment. However, the stock's long-term performance remains concerning, as it has generated no returns over the past year while the benchmark has increased by 6.66% year-to-date. This juxtaposition highlights the challenges Elgi Rubber faces in maintaining investor confidence amidst its financial struggles.