Why is MIRC Electronics falling/rising?

As of 17-Jul, MIRC Electronics Ltd's stock price is currently at Rs 18.31, reflecting an increase of 1.8 or 10.9%. The stock has shown strong performance recently, gaining 29.1% over the last four days and outperforming its sector by 11.09% today. It opened with a gain of 2.85% and reached an intraday high of Rs 19.75. Despite this positive short-term movement, the company faces significant challenges, including operating losses and weak long-term growth, with net sales declining by 32.38% in the latest quarter. Additionally, 34.51% of promoter shares are pledged, which could exert downward pressure on the stock in a falling market.
In the broader market context, MIRC Electronics has significantly outperformed the benchmark Sensex over the past week, with a return of 24.90% compared to the Sensex's decline of 1.12%. However, the stock has underperformed over the longer term, with a year-to-date decline of 23.71% against the Sensex's gain of 5.27%. This contrast highlights the stock's volatility and the potential for short-term gains amidst underlying fundamental weaknesses, as evidenced by its negative return of -13.88% over the past year compared to the market's modest positive return.