Why is Hitech Corp. falling/rising?

As of 25-Jul, Hitech Corporation Ltd's stock price is currently at 201.80, reflecting an increase of 1.8, or 0.9%. Today's price summary indicates that the stock has outperformed its sector by 2.46% and has experienced a trend reversal, gaining after two consecutive days of decline. The stock opened with a significant gain of 6.4% and reached an intraday high of Rs 217.9, although it also saw a low of Rs 196, indicating high volatility with a wide trading range of Rs 21.9. Despite this positive movement today, the stock has underperformed in the longer term, with a year-to-date return of -15.56% and a one-year return of -17.40%. The company's ability to service debt is strong, supported by a low Debt to EBITDA ratio of 1.42 times, and it is trading at a discount compared to its peers. However, the company has faced challenges, including a significant profit decline of -59.3% over the past year and negative results for the last four consecutive quarters, which may weigh on investor sentiment.
In the broader market context, Hitech Corporation's short-term performance has been relatively better compared to the benchmark, with a 1-month return of +4.24% against the Sensex's -1.56%. However, the stock has consistently underperformed against the benchmark over the last three years, with a return of -14.31% compared to the Sensex's +46.08%. This persistent underperformance, coupled with declining operating profits and negative quarterly results, suggests that while there may be short-term gains, the long-term outlook remains concerning, impacting overall investor confidence.