Why is Mihika Industrie falling/rising?

As of 13-Aug, Mihika Industries Ltd's stock price is currently at Rs 19.99, reflecting an increase of Rs 1.57 or 8.52%. Today, the stock opened lower, down 2.55%, but managed to reach an intraday high of Rs 19.99, indicating a significant recovery during the trading session. The stock has shown high volatility with an intraday range of Rs 2.04 and has outperformed its sector by 7.81%. Despite the positive movement today, the stock has a mixed performance over the past periods, with a 1-week return of +6.27% but a year-to-date decline of -17.91%. The company has reported positive results for the last three consecutive quarters, with net sales increasing to Rs 28.32 crore; however, it faces challenges such as operating losses and a weak ability to service its debt, which contribute to its overall weak long-term fundamental strength.
In the broader market context, while Mihika Industries has outperformed the Sensex by 6.28% over the past week, it has still underperformed the benchmark over longer periods, including a -6.94% return over the past month compared to the Sensex's -2.38%. This suggests that while there may be short-term positive sentiment driving today's price increase, the stock's long-term performance remains concerning, particularly with a negative EBITDA and poor growth metrics. The combination of rising investor participation and positive sales results may provide some support, but the underlying financial weaknesses indicate a cautious outlook for the stock moving forward.