Why is IGC Industries falling/rising?

As of 18-Sep, IGC Industries Ltd is experiencing a price increase, currently at 3.22, reflecting a change of 0.07 or 2.22% upward. Today's price summary indicates that the stock has outperformed its sector by 2.17%, with a notable increase in delivery volume, which rose by 34.98% against the 5-day average. However, despite this short-term uptick, the stock has shown significant underperformance over longer periods, with a year-to-date decline of 67.38% and a staggering 89.50% drop over the past year. The company is characterized by high debt levels, a poor long-term growth outlook, and negative EBITDA, which contribute to its classification as a strong sell. Additionally, there has been a decrease in institutional investor participation, further signaling a lack of confidence in the company's fundamentals.
In the broader market context, IGC Industries' short-term performance of +4.21% over the past week contrasts with the Sensex's gain of 1.80%, indicating a relative strength in the immediate term. However, the stock's long-term trajectory remains concerning, as it has consistently underperformed against the benchmark over the last three years, with returns of -89.50% compared to the Sensex's modest increase of 6.24% year-to-date. This persistent underperformance, coupled with high debt and weak profitability metrics, suggests that while there may be short-term gains, the overall outlook for IGC Industries remains precarious.