Why is Guj Apollo Inds falling/rising?

As of 28-Aug, Gujarat Apollo Industries Ltd is experiencing a price increase, currently at 527.25, which reflects a rise of 12.8 or 2.49%. The stock has shown strong performance recently, outperforming its sector by 2.91% today and achieving an 8.3% return over the last two days. It has also touched an intraday high of Rs 539.8. Over the past week, the stock has gained 8.43%, and in the last month, it has increased by 10.71%. However, despite these positive movements, the company has reported operating losses and negative results for the last six consecutive quarters, which raises concerns about its long-term fundamental strength. The weak EBIT to interest ratio and negative return on capital employed (ROCE) indicate challenges in servicing its debt, which could impact investor sentiment.
In the broader market context, while Gujarat Apollo Industries has outperformed the Sensex by a significant margin in various time frames, including a year-to-date return of 62.43% compared to the Sensex's 2.48%, the overall market sentiment appears to be cautious. The stock's recent gains come amidst a backdrop where the Sensex has declined by 2.34% over the past week and 1.00% over the last month. This divergence suggests that while the stock is gaining traction among investors, the broader market conditions may still pose risks, particularly given the company's ongoing financial struggles and the lack of domestic mutual fund investment, which could indicate a lack of confidence in its future performance.