Why is SEL Mfg. Co falling/rising?

As of 19-Sep, SEL Manufacturing Company Ltd's stock price is currently at 31.29, reflecting a slight increase of 0.09 or 0.29%. The stock has been gaining for the last three days, with a total return of 3.85% during this period. Despite this recent uptick, the company faces significant challenges, including a negative book value and a high debt-to-equity ratio of 3.05 times. The company has reported negative results for the last five consecutive quarters, with net sales declining by 82.34% in the latest six months. Additionally, 36% of promoter shares are pledged, which could exert further downward pressure on the stock in a declining market.
In the broader market context, SEL Manufacturing's short-term performance of 0.94% over the past week slightly outpaces the Sensex's return of 0.88%. However, the company has consistently underperformed against the benchmark over the last three years, with a staggering decline of 95.37% compared to the Sensex's gain of 39.71% during the same period. This persistent underperformance, coupled with weak long-term fundamentals and negative EBITDA, suggests that while there may be short-term gains, the overall outlook for SEL Manufacturing remains precarious.