Why is Palred Technolog falling/rising?

As of 22-Jul, Palred Technologies Ltd's stock price is currently at Rs 64.69, reflecting an increase of Rs 2.68 or 4.32%. The stock has shown a strong performance today, outperforming its sector by 4.54% and has gained 8.01% over the last two days. However, despite this recent uptick, the company faces significant challenges, including operating losses and a weak ability to service its debt, as indicated by a poor EBIT to Interest ratio of 0.06. The company has reported negative results for the last nine consecutive quarters, with a PAT of Rs -3.88 crore, which has fallen by 244.9% compared to the previous four-quarter average. Additionally, institutional investors have reduced their stakes, indicating a lack of confidence in the company's long-term prospects.
In the broader market context, Palred Technologies has outperformed the Sensex in the short term, with a 1-week return of +19.07% compared to the benchmark's -0.47%. However, the stock has consistently underperformed over longer periods, with a year-to-date return of -17.92% against the Sensex's +5.18%. This persistent underperformance, coupled with a significant decline in profitability and negative EBITDA, suggests that while the stock may be experiencing a temporary rise, the underlying fundamentals remain weak, which could hinder sustained growth moving forward.