Why is Kanoria Chem. falling/rising?

As of 08-Sep, Kanoria Chemicals & Industries Ltd is experiencing a price increase, currently at Rs 86.08, reflecting a rise of Rs 3.08 or 3.71%. The stock has shown a positive trend recently, gaining 4.28% over the last two days and outperforming its sector by 3.2% today. However, despite this short-term gain, the stock has underperformed over longer periods, with a year-to-date decline of 23.96% and a one-year drop of 34.89%. The company's weak long-term fundamentals, including a low Return on Capital Employed (ROCE) of 1.14% and a high Debt to EBITDA ratio of 9.38 times, contribute to its overall risk profile. Additionally, the high percentage of pledged promoter shares (29.57%) adds to the downward pressure on the stock in a declining market.
In the broader market context, the stock's recent performance contrasts with the benchmark, as it has outperformed the Sensex by 1.53% over the past week, while the benchmark has only increased by 0.53%. However, the stock's longer-term performance remains concerning, as it has consistently underperformed against the benchmark over the last three years, with a staggering decline of 46.20% compared to the Sensex's 35.35% increase. This persistent underperformance, combined with the company's financial challenges, suggests that while there may be short-term gains, the overall outlook for Kanoria Chemicals remains precarious.