Why is Panyam Cement falling/rising?

As of 20-Jun, Panyam Cements & Mineral Industries Ltd is experiencing a price increase, currently at Rs 168.00, reflecting a rise of Rs 4.85 or 2.97%. The stock has shown a positive trend recently, gaining 7.59% over the last two days and outperforming its sector by 3%. Despite this short-term gain, the stock has faced significant challenges, including a negative book value and weak long-term fundamentals, with net sales growing at only 12.01% annually over the past five years. Additionally, the company has reported negative earnings before interest, taxes, depreciation, and amortization (EBITDA) and a substantial decline in profits, which may contribute to investor caution despite the recent uptick in price.
In the broader market context, Panyam Cements has underperformed against the benchmark Sensex in the long term, with a year-to-date return of -11.58% compared to the Sensex's +5.46%. Over the past week, the stock has declined by 7.72%, contrasting sharply with the Sensex's gain of 1.59%. This underperformance highlights the stock's volatility and the risks associated with its high debt levels and negative profitability trends, which may overshadow the recent price increase and lead to skepticism among investors regarding its sustainability.