Why is KIOCL falling/rising?

As of 22-Jul, KIOCL Ltd's stock price is currently at 311.75, reflecting an increase of 3.75 or 1.22%. The stock has shown a strong performance today, having outperformed its sector by 0.47% and achieving a consecutive gain over the last two days with a total return of 7.59%. Additionally, the stock reached an intraday high of Rs 316.35, indicating positive momentum. However, despite these short-term gains, the company faces significant challenges, including operating losses and negative results over the last five consecutive quarters, which have contributed to a year-to-date decline of 22.03% and a one-year drop of 30.00%. The low return on equity and negative EBITDA further highlight the company's weak long-term fundamental strength, which may deter long-term investors.
In the broader market context, KIOCL's short-term return of 6.69% over the past week contrasts sharply with the Sensex, which has declined by 0.47% during the same period. This indicates that KIOCL is currently gaining traction relative to the broader market. However, it is important to note that the stock has underperformed significantly over the last year compared to the market, which has seen a modest return of 2.09%. The limited interest from domestic mutual funds, holding only 0.01% of the company, suggests a lack of confidence in its long-term prospects, which may impact future price movements despite the recent uptick.