Why is Indrayani Biotec falling/rising?

As of 30-Jun, Indrayani Biotech Ltd's stock price is currently at 14.01, reflecting an increase of 0.11 or 0.79%. The stock has been gaining for the last two days, with a total return of 0.86% during this period. However, over the past month, the stock has experienced a significant decline of 12.71%, and its year-to-date performance shows a staggering drop of 61.49%. Despite the recent uptick, the stock's long-term outlook remains concerning, with a return of -77.22% over the last year and negative results reported for the last four consecutive quarters. The company's weak fundamentals, highlighted by an operating loss and a high Debt to EBITDA ratio of 9.25 times, contribute to a lack of investor confidence, further exacerbated by a 1.59% decrease in institutional investor stakes.
In the broader market context, the stock's recent performance is somewhat in line with the sector, but it still lags behind the benchmark Sensex, which has gained 2.09% over the past week. The stock's performance is below par compared to the benchmark, particularly over longer periods, as it has underperformed the BSE 500 in the last three years, one year, and three months. While the stock is trading at a discount compared to its peers' average historical valuations, the overall negative sentiment surrounding its financial health and falling investor participation suggests that the recent price increase may not be sustainable in the face of ongoing operational challenges.