Why is High Street Fila falling/rising?

As of 28-Jul, High Street Filatex Ltd is experiencing a price increase, currently at Rs 189.75, which reflects a rise of 8.9 or 4.92%. The stock has shown strong performance, with a 1-week return of +4.83% and a 1-month return of +7.57%. It is also close to its 52-week high, being only 1.68% away from Rs 192.94. Today's trading has been characterized by an open gap up of 4.98%, and the stock has outperformed its sector by 5.81%. However, despite these positive indicators, the company faces challenges, including operating losses and a weak long-term fundamental strength, as evidenced by a negative EBIT to Interest ratio and a reported negative return on equity. Additionally, promoter confidence has waned, with a significant reduction in their stake, which may impact investor sentiment.
In the broader market context, High Street Filatex Ltd has significantly outperformed the Sensex, which has seen a decline of 1.59% over the past week. The stock's year-to-date return of +107.02% starkly contrasts with the Sensex's modest gain of +3.52%. This strong performance in both the short and long term indicates that, despite the underlying financial issues and reduced promoter confidence, the stock is currently favored by investors, likely due to its recent price movements and trading patterns.