Why is Kenvi Jewels falling/rising?

As of 14-Aug, Kenvi Jewels Ltd is experiencing a slight increase in its stock price, currently at 2.93, reflecting a change of 0.01 or 0.34% upward. The stock has shown a consecutive gain over the last two days, rising by 1.74%. However, it is trading below its moving averages across various time frames, indicating a potential struggle in maintaining upward momentum. Despite a significant decline of 46.63% over the past year, recent positive results such as a 32.01% growth in net sales and a high return on capital employed (ROCE) of 11.34% in the first half of the year suggest some underlying strength. Nevertheless, the company's long-term fundamentals remain weak, with an average ROCE of only 9.68% and a poor EBIT to interest ratio, which raises concerns about its ability to service debt.
In the broader market context, Kenvi Jewels has underperformed compared to the benchmark, with a 1-week return of -4.56% against a negligible decline of -0.03% for the Sensex. Over the past month, the stock has also seen a significant drop of 11.48%, while the benchmark has only decreased by 2.01%. This stark contrast highlights the stock's ongoing challenges in the market, despite some recent positive movements. The liquidity of the stock appears adequate, with an increase in delivery volume, which may indicate rising investor interest, but the overall performance remains concerning when viewed against the broader market trends.