Why is Pratiksha Chem. falling/rising?

As of 11-Jul, Pratiksha Chemicals Ltd is experiencing a price increase, currently at Rs 22.22, reflecting a rise of 1.05 or 4.96%. Today's performance indicates that the stock has outperformed its sector by 5.7%, marking a trend reversal after three consecutive days of decline. The stock reached an intraday high of Rs 22.22, although it is trading below its 20-day moving average. Despite this positive movement, the company faces significant challenges, including a negative book value and weak long-term fundamentals, as evidenced by a poor EBIT to Interest ratio of 0.24 and reported losses. Additionally, the promoters have reduced their stake by 2.71%, which may signal a lack of confidence in the company's future prospects.
In the broader market context, Pratiksha Chemicals has shown a short-term return of +1.09% over the past week, contrasting with a -1.12% decline in the Sensex, indicating relative strength against the benchmark. However, the stock has underperformed over the longer term, with a year-to-date return of -7.42% compared to the Sensex's +5.58%. This consistent underperformance, coupled with negative financial results and decreasing promoter confidence, suggests that while the stock may be experiencing a temporary uptick, its long-term outlook remains precarious.