Why is Indian CardCloth falling/rising?

As of 05-Sep, Indian Card Clothing Company Ltd's stock price is currently at Rs 278.00, reflecting an increase of Rs 24.0 or 9.45%. Today, the stock opened with a loss of 3.54% but reached an intraday high of Rs 284, indicating significant volatility with a wide trading range of Rs 39. Despite today's performance, the stock has underperformed over the past month, showing a decline of 5.83%. The company faces challenges, including operating losses and a weak ability to service its debt, which has contributed to a negative EBITDA and a poor EBIT to Interest ratio of -3.69. Additionally, the company reported a significant drop in PAT and net sales, which further impacts investor sentiment.
In the broader market context, the stock has outperformed its sector by 10.3% today, while the benchmark Sensex has only increased by 1.13% over the past week. However, the stock's year-to-date performance shows a decline of 16.01%, contrasting with the Sensex's gain of 3.29%. The falling investor participation, evidenced by a 38.7% drop in delivery volume, suggests a lack of confidence among investors, which may hinder any sustained upward movement despite today's price increase. Overall, while the stock has seen a short-term rise, its long-term fundamentals remain weak, indicating potential risks for investors.