Why is Gravity (India) falling/rising?

As of 07-Jul, Gravity (India) Ltd's stock price is currently at 6.10, reflecting an increase of 0.28 or 4.81%. The stock has outperformed its sector today by 5.47%, and it is trading higher than its 5-day, 50-day, 100-day, and 200-day moving averages, although it is lower than the 20-day moving average. Over the past year, the stock has generated a return of 29.51%, significantly outperforming the market benchmark, which has returned only 1.74%. However, the company faces challenges, including operating losses and a weak long-term fundamental strength, with net sales declining at an annual rate of -40.99% and a concerning EBIT to Interest ratio of -2.53. Additionally, promoter confidence appears to be waning, as they have reduced their stake in the company by -0.84% in the previous quarter.
In the broader market context, the stock's short-term performance over the past week shows a gain of 1.67%, while the benchmark Sensex has declined by -0.20%. This indicates that Gravity (India) is currently performing better than the overall market. Despite its recent price increase, the stock's long-term outlook remains uncertain due to the company's financial struggles and decreasing promoter confidence, which could impact future investor sentiment and stock performance.