Why is Ideaforge Tech falling/rising?

As of 27-Oct, Ideaforge Technology Ltd's stock is currently priced at 496.80, reflecting an increase of 2.55 (0.52%). The stock has been gaining momentum recently, with a performance of 5.14% over the last two days, outperforming its sector by 0.4%. In the past week, the stock has risen by 5.46%, although it has experienced a decline of 0.57% over the past month. Notably, promoter confidence has increased, with a 4.26% rise in their stake, indicating a positive outlook for the company's future. However, the company has been facing significant challenges, including operating losses and negative growth in net sales and profits, which raises concerns about its long-term viability.
In the broader market context, while Ideaforge Technology has shown a positive short-term return, it has underperformed compared to the benchmark Sensex, which has gained 0.49% over the same week. The stock's year-to-date performance is particularly concerning, with a decline of 18.42%, contrasting sharply with the Sensex's gain of 8.50%. This underperformance highlights the stock's struggle to maintain investor confidence despite recent positive movements, as it continues to grapple with weak fundamentals and negative financial results over the past year.