Why is MIC Electronics falling/rising?

As of 22-Aug, MIC Electronics Ltd's stock price is currently at 50.35, reflecting an increase of 2.83, or 5.96%. The stock has shown a strong performance today, outperforming its sector by 6.35% and opening with a gain of 3.09%. It reached an intraday high of Rs 50.8, indicating positive momentum. However, despite this short-term rise, the stock has underperformed over the past month, with a decline of 4.11%, and a significant year-to-date drop of 40.56%. The company's weak long-term fundamentals, highlighted by a low Return on Capital Employed (ROCE) of 5.02% and a high Debt to EBITDA ratio of 3.45, contribute to a negative outlook. Additionally, the recent decrease in promoter stake by 4.42% suggests a lack of confidence in the company's future, further impacting investor sentiment.
Broader market context indicates that while the stock has gained 11.54% over the past week, it has significantly lagged behind the benchmark Sensex, which only increased by 0.88%. The stock's performance over the last year is particularly concerning, as it has fallen by 33.75%, compared to the broader market's slight decline of 0.31%. This stark contrast underscores the challenges faced by MIC Electronics, including a substantial drop in net sales and profits, which have fallen by 84.8%. Overall, while there is a short-term uptick in price, the long-term fundamentals and broader market performance suggest a cautious outlook for MIC Electronics Ltd.