Why is Elgi Rubber Co falling/rising?

As of 30-Oct, Elgi Rubber Company Ltd's stock price is currently at 66.11, reflecting an increase of 2.95, or 4.67%. Despite this daily gain, the stock has been on a downward trend, having fallen every week for the last eight weeks and generating -100% returns during this period. Additionally, it has experienced a monthly decline over the last six weeks, also resulting in -100% returns. The stock opened with a gain of 4.18% today and reached an intraday high of Rs 66.31, indicating some positive momentum. However, it is important to note that the stock's year-to-date performance shows a significant decline of -51.41%, contrasting sharply with the Sensex's gain of 9.44% during the same period.
In the broader market context, while Elgi Rubber's stock has outperformed its sector by 5.39% today, its recent performance has been lackluster compared to the benchmark, as evidenced by its -100% returns over the last eight weeks against the Sensex's slight decline of -0.05% over the same timeframe. The stock's liquidity appears adequate for trading, based on 2% of the five-day average traded value. However, the stock's moving averages indicate mixed signals, being higher than the 5-day, 20-day, and 100-day moving averages but lower than the 50-day and 200-day moving averages, suggesting potential volatility ahead. Overall, the combination of recent erratic trading and significant declines over the past months contributes to the stock's current performance dynamics.