Why is Incon Engineers falling/rising?

As of 14-Jul, Incon Engineers Ltd's stock price is currently at Rs 10.29, reflecting a slight increase of 0.01 (0.1%). The stock has been gaining for the last two days, with a total return of 5% during this period. However, it remains 4.76% away from its 52-week low of Rs 9.8. Despite this recent uptick, the stock has shown significant underperformance over the longer term, with a decline of 36.13% over the past year and a negative book value indicating weak long-term fundamental strength. The company's financial health is concerning, characterized by a high debt-to-equity ratio and negative EBITDA, which suggests that while there may be short-term gains, the overall outlook remains risky.
In the broader market context, Incon Engineers' recent performance contrasts sharply with the benchmark, as the Sensex has seen a decline of 1.42% over the past week while the stock itself has gained 1.38%. This indicates that the stock's short-term recovery is not reflective of broader market trends. Additionally, the company's liquidity is limited, with a significant drop in delivery volume, which may hinder sustained price increases. Overall, while there are minor positive movements in the stock price, the underlying financial issues and consistent underperformance against benchmarks suggest a challenging environment for Incon Engineers Ltd.