Why is Ideaforge Tech falling/rising?

As of 22-Aug, Ideaforge Technology Ltd is experiencing a price increase, currently at Rs 499.35, reflecting a rise of Rs 36.5 or 7.89%. The stock has outperformed its sector today by 6.26%, reaching an intraday high of Rs 529.35, which is a 14.37% increase. However, despite this short-term gain, the stock has shown a negative trend over the past month, with a decline of 8.28%, and a significant year-to-date drop of 18.00%. The company has been facing substantial challenges, including operating losses and a weak long-term fundamental strength, as evidenced by a net sales decline of 30.89% annually and negative results for the last four consecutive quarters. Additionally, the stock is considered risky due to its negative EBITDA and a decrease in institutional investor participation.
In the broader market context, the stock's short-term performance of +11.24% over the past week contrasts sharply with the Sensex, which has only increased by 0.88%. This indicates that while Ideaforge Technology Ltd is currently gaining traction, it has underperformed the benchmark over longer periods, including a year-to-date decline of 18.00% compared to the Sensex's gain of 4.05%. The overall sentiment remains cautious due to the company's poor financial health and declining sales, which may overshadow the recent price increase and lead to skepticism among investors regarding its long-term viability.