Why is K G Denim falling/rising?

As of 25-Aug, K G Denim Ltd's stock price is rising, currently at Rs 21.20, reflecting an increase of Rs 1.83 or 9.45%. The stock has shown strong performance today, outperforming its sector by 10.08% and opening with a gain of 3.25%. It reached an intraday high of Rs 22.64, indicating significant volatility with a wide trading range of Rs 4.34. However, despite this short-term gain, the company has a negative long-term outlook, characterized by a negative book value and a weak fundamental strength. The company has reported declining net sales and operating profit over the past five years, alongside a high debt-to-equity ratio, which raises concerns about its profitability and long-term viability.
In the broader market context, K G Denim's short-term return of +15.91% over the past week significantly outpaces the Sensex's modest gain of +0.45%. However, the stock's long-term performance remains concerning, with a year-to-date decline of -14.86% compared to the Sensex's increase of +4.48%. This consistent underperformance against the benchmark over the last three years, coupled with negative results reported for the last twelve consecutive quarters, suggests that while the stock may be experiencing a temporary rise, the underlying fundamentals indicate a risky investment with potential for continued volatility.