Why is Kobo Biotech falling/rising?

As of 19-Sep, Kobo Biotech Ltd's stock price is currently at Rs. 2.25, reflecting an increase of Rs. 0.07 or 3.21%. The stock has recently outperformed its sector by 3.54% today, marking a trend reversal after two consecutive days of decline. However, it has hit a new 52-week low of Rs. 2.08 today. Despite this short-term gain, the stock has shown a significant decline over longer periods, with a 1-month return of -6.64% and a 1-year return of -19.35%. The company has not declared results in the last six months, which raises concerns about its long-term fundamental strength, especially given its poor growth metrics, including a net sales decline of -100% over the past five years and a high debt-to-equity ratio.
In the broader market context, Kobo Biotech's short-term performance contrasts with the benchmark Sensex, which has gained 0.88% over the past week. The stock's consistent underperformance against the benchmark over the last three years, coupled with its flat results in June 2024, indicates a risky investment profile. The lack of recent financial results and the company's significant losses further contribute to a negative outlook, despite the recent uptick in investor participation. Overall, while there is a slight rise in the stock price today, the underlying fundamentals and historical performance suggest ongoing challenges for Kobo Biotech.