Why is Indian Acrylics falling/rising?

As of 29-Aug, Indian Acrylics Ltd is experiencing a slight increase in its stock price, currently at 7.72, reflecting a change of 0.02 or 0.26% upward. Today's price summary indicates that the stock has outperformed its sector by 0.96% and has gained after two consecutive days of decline. However, it is trading below all its moving averages, suggesting a bearish trend. Over the past week, the stock has decreased by 2.28%, and it has shown significant underperformance over longer periods, with a year-to-date decline of 28.52% and a staggering 44.62% drop over three years. The company faces substantial challenges, including a high debt-equity ratio of 17.21 times and negative results for the last nine consecutive quarters, which contribute to its classification as a strong sell.
In the broader market context, the Sensex has declined by 1.84% over the past week, indicating that while Indian Acrylics has underperformed the benchmark, it has managed to rise slightly today amidst a generally negative market environment. The stock's liquidity appears adequate, with a notable increase in delivery volume, suggesting some renewed interest from investors. However, the high level of pledged promoter shares and the company's poor long-term growth prospects, including a negative EBITDA, continue to exert downward pressure on the stock price. Overall, while there is a minor uptick today, the fundamental weaknesses and historical underperformance against the benchmark paint a concerning picture for Indian Acrylics Ltd.