Why is Ester Industries falling/rising?

As of 28-Aug, Ester Industries Ltd's stock price is currently at 111.10, reflecting an increase of 3.35 or 3.11%. The stock has shown a positive trend today, gaining after two consecutive days of decline, and has outperformed its sector by 4.5%. It reached an intraday high of Rs 118, representing a 9.51% increase, while the day's low was Rs 105, indicating a wide trading range of Rs 13. Despite this short-term gain, the stock has underperformed over the past month with a decline of 5.89% and a year-to-date drop of 27.10%. The company's return on capital employed is negative at -2.4, and while it trades at a discount compared to peers, its long-term fundamentals are weak, with a significant decline in operating profits and a high debt-to-EBITDA ratio.
In the broader market context, Ester Industries' recent performance contrasts sharply with the benchmark Sensex, which has seen a decline of 2.34% over the past week. The stock's short-term gain comes amid a backdrop of poor long-term performance, as it has generated a return of -26.42% over the past year, significantly underperforming the BSE500. The lack of investor confidence is further illustrated by the minimal stake held by domestic mutual funds, which may indicate discomfort with the stock's valuation or business prospects. Overall, while there is a short-term rise in the stock price, the underlying fundamentals suggest caution for potential investors.