Why is Nandan Denim falling/rising?

As of 14-Aug, Nandan Denim Ltd's stock price is currently at 3.43, reflecting an increase of 0.03 or 0.88%. The stock has shown a trend reversal by gaining after four consecutive days of decline, although it is still trading below its moving averages across various time frames. Despite today's performance, the stock has underperformed significantly over the past week and month, with declines of 2.56% and 9.02%, respectively. Positive factors contributing to the recent price movement include healthy long-term growth in net sales and operating profit, as well as an increase in institutional investor participation, which may signal confidence in the company's fundamentals. However, the stock's overall performance remains concerning due to a significant year-to-date decline of 29.42% and a high debt-to-EBITDA ratio, indicating challenges in servicing debt.
In the broader market context, Nandan Denim's recent performance contrasts with the benchmark Sensex, which has remained relatively stable with a slight decline of only 0.03% over the past week. The stock's underperformance compared to the benchmark over the past year and three years highlights its struggles in the market, despite some positive indicators such as increased institutional investment and a favorable valuation compared to peers. This mixed performance suggests that while there are some positive developments, the overall sentiment around the stock remains cautious due to its historical underperformance and management efficiency concerns.