Why is Sapphire Foods falling/rising?

As of 30-Oct, Sapphire Foods India Ltd is experiencing a price increase, currently at Rs 300.80, reflecting a rise of Rs 8.8 or 3.01%. The stock has shown a strong performance today, outperforming its sector by 3.18% and achieving a consecutive gain over the last two days with a total return of 7.45%. It reached an intraday high of Rs 310.25, indicating positive momentum. However, despite this short-term gain, the stock has underperformed in the longer term, with a year-to-date return of -10.21% and a one-year return of -7.12%. The company's financial health raises concerns, as it has reported negative results for the last three consecutive quarters and has a weak EBIT to Interest ratio of 1.14, indicating challenges in servicing its debt.
In the broader market context, while Sapphire Foods has shown a positive short-term return of 3.71% over the past week, the benchmark Sensex has slightly declined by 0.18% during the same period. This suggests that the stock's recent rise is somewhat isolated from the overall market trend. However, the company's long-term performance remains concerning, with a significant underperformance against the benchmark over the last three years and a negative return of -10.21% year-to-date compared to the Sensex's positive return of 8.02%. The high institutional holdings at 68.56% may provide some support, but the overall financial indicators suggest a cautious outlook for the stock moving forward.