Why is MIC Electronics falling/rising?

As of 08-Sep, MIC Electronics Ltd is experiencing a significant rise in its stock price, currently at Rs 78.71, reflecting an increase of Rs 12.95 or 19.69%. The stock has shown strong performance today, outperforming its sector by 21.95% and achieving a consecutive gain over the last four days, resulting in a total return of 52.83% during this period. The stock opened with a gain of 2.02% and reached an intraday high of Rs 78.91. Despite this positive movement, the company faces challenges, including weak long-term fundamental strength indicated by a low Return on Capital Employed (ROCE) of 5.02% and a high Debt to EBITDA ratio of 3.45 times. Additionally, the promoters have reduced their stake by 4.42%, which may signal diminished confidence in the company's future.
In the broader market context, MIC Electronics has significantly outperformed the benchmark Sensex in the short term, with a 1-week return of +51.89% compared to the Sensex's +0.53%. Over the past month, the stock has risen by 71.89%, while the Sensex has only increased by 1.16%. However, it is important to note that despite these short-term gains, the stock has a year-to-date return of -7.08%, indicating that it has struggled over a longer time frame. The recent surge in stock price may be attributed to increased investor participation, as evidenced by a 206.76% rise in delivery volume, which suggests growing interest despite underlying financial concerns.