Why is OK Play India falling/rising?

As of 24-Jun, OK Play India Ltd's stock price is currently at 11.09, reflecting a slight increase of 0.02 or 0.18%. The stock has been gaining momentum, with a consecutive gain over the last three days, resulting in a total return of 10.68% during this period. In the past week, the stock has outperformed the Sensex, rising by 3.36% compared to the benchmark's 0.58%. However, despite these short-term gains, the stock has experienced a significant decline of 20.16% over the past year, and its profits have fallen dramatically by 121.7%. The company's low Return on Capital Employed (ROCE) of 4.6 and a high Debt to EBITDA ratio of 4.19 times indicate weak long-term fundamental strength, which could be contributing to investor caution.
In the broader market context, while the stock has shown positive short-term performance, it has underperformed relative to the BSE 500 index, which generated returns of 2.98% over the last year. The rising investor participation, evidenced by a 91.29% increase in delivery volume, suggests some renewed interest in the stock. However, the high percentage of pledged promoter shares, which has increased over the last quarter, may exert downward pressure on the stock in a falling market. Overall, while there are some positive indicators in the short term, the underlying financial challenges and recent negative performance metrics suggest a cautious outlook for OK Play India Ltd.