Why is IGC Industries falling/rising?

As of 23-Sep, IGC Industries Ltd's stock price is currently at 3.19, reflecting an increase of 0.07 or 2.24%. Today's performance shows that the stock has outperformed its sector by 2.4% and has gained after two consecutive days of decline. However, despite this short-term uptick, the stock has experienced significant underperformance over the longer term, with a year-to-date decline of 67.68% and a staggering 89.00% drop over the past year. The company is characterized by high debt levels, a weak 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, indicating a lack of confidence in the company's fundamentals.
In the broader market context, the stock's short-term return of +0.31% over the past week contrasts with the Sensex, which has declined by 0.34% during the same period. However, the stock's long-term performance remains concerning, as it has consistently underperformed against the benchmark over the last three years. The significant drop in delivery volume and the company's high debt-to-equity ratio further highlight the risks associated with investing in IGC Industries Ltd, despite the recent price increase.