Why is Spice IslandsInd falling/rising?

As of 16-Jul, Spice Islands Industries Ltd is experiencing a price increase, currently at Rs 46.49, reflecting a rise of 1.7 (3.8%). Today's price summary indicates that the stock has outperformed its sector by 3.27% and has shown a trend reversal after three consecutive days of decline. It opened with a significant gain of 4.93% and reached an intraday high of Rs 47. However, the stock also faced a low of Rs 42.56 during the day, indicating volatility. Over the past week, the stock has seen a slight decline of -0.19%, but it has performed positively over the year-to-date with a return of +10.88%. Despite recent positive quarterly results, the company faces challenges such as a negative book value and high debt levels, which contribute to its weak long-term fundamental strength.
In the broader market context, the Sensex has declined by -1.08% over the past week, suggesting that Spice Islands Industries Ltd's recent performance is relatively strong compared to the overall market. While the stock has generated a return of -0.62% over the past year, it has outperformed the benchmark in the year-to-date period. The company's high debt-to-equity ratio and negative EBITDA present risks that could impact future performance, yet the recent positive earnings report may have provided a temporary boost to investor sentiment, contributing to the stock's current upward movement.