Why is MPL Plastics falling/rising?

As of 23-Sep, MPL Plastics Ltd is currently priced at 9.10, reflecting an increase of 0.27 or 3.06%. The stock has shown a positive performance today, outperforming its sector by 4.31%. However, it is trading below its moving averages across various time frames, indicating a potential weakness in its price momentum. Over the past week, the stock has gained 2.13%, contrasting with a decline of 1.52% over the last month. Despite today's rise, the stock has faced significant challenges, including a negative book value and a high debt-to-equity ratio, which contribute to its weak long-term fundamentals. The company has reported a drastic decline in net sales and operating profit over the past five years, further complicating its financial outlook.
In the broader market context, while MPL Plastics has shown a short-term gain, it has underperformed against the benchmark Sensex in the longer term, with a year-to-date return of -25.84% compared to the Sensex's gain of 5.07%. The stock's performance over the last year has also been poor, generating a return of -37.28%, which is significantly lower than the benchmark's decline of only 3.33%. This underperformance, coupled with a negative EBITDA and flat results in recent quarters, suggests that while there may be some short-term investor interest, the overall outlook remains challenging for MPL Plastics Ltd.