Why is Nectar Lifesci. falling/rising?

As of 03-Jul, Nectar Lifescience Ltd's stock price is currently at 23.49, reflecting an increase of 0.58 or 2.53%. The stock has been gaining momentum, having outperformed its sector by 2.05% today and achieving a consecutive gain over the last three days, with a total return of 5.95% during this period. Despite this short-term positive movement, the stock has shown a decline of 3.13% over the past month and a significant drop of 39.77% year-to-date. The company has reported very positive results, including a 40% growth in net profit and consistent positive results for the last six quarters, which may contribute to the recent uptick in stock price. However, concerns about long-term fundamental strength persist, particularly due to a high Debt to EBITDA ratio and a significant percentage of promoter shares being pledged.
In the broader market context, Nectar Lifescience's short-term performance contrasts with the Sensex, which has seen a decline of 0.62% over the past week. While the stock has outperformed the benchmark in the short term, its long-term performance remains weak, with a 25.24% decline over the past year compared to the Sensex's 4.07% increase. This disparity highlights the challenges the company faces in maintaining investor confidence, especially given its underperformance over longer periods and the high level of pledged shares, which could exert additional downward pressure in a falling market.