Why is Nandan Denim falling/rising?

As of 21-Aug, Nandan Denim Ltd's stock price is currently at 3.44, reflecting an increase of 0.02 or 0.58%. The stock has shown a trend reversal by gaining after two consecutive days of decline, and it has outperformed its sector by 0.88% today. However, despite this short-term gain, the stock has underperformed in the longer term, with a year-to-date decline of 29.22% and a one-year return of -28.11%. Positive factors contributing to the recent movement include a significant growth in net sales and operating profit, as well as increased participation from institutional investors, which may indicate a more favorable outlook. Conversely, the stock faces challenges such as poor management efficiency, a high debt-to-EBITDA ratio, and a low return on capital employed, which could weigh on investor sentiment.
In the broader market context, Nandan Denim's short-term performance of +0.29% over the past week contrasts with the Sensex, which has risen by 1.74% in the same period. This indicates that while the stock has seen a slight uptick recently, it is still lagging behind the overall market performance. The company's long-term struggles, reflected in its negative returns over the past year and three years, suggest that investors remain cautious despite today's positive movement. The stock's liquidity is adequate for trading, but its overall performance metrics indicate a need for improvement to regain investor confidence in the long run.