Why is SPL Industries falling/rising?

As of 19-Aug, SPL Industries Ltd is experiencing a price increase, currently at Rs 36.75, reflecting a rise of 1.75 or 5.0%. Today's price summary indicates that the stock has outperformed its sector by 3.71% and has gained after three consecutive days of decline. It opened with a 4% gain and reached an intraday high of Rs 36.75, although it also touched a low of Rs 34 during the day. Despite this positive movement, the stock has shown significant underperformance over the past week, month, and year, with returns of -5.38%, -13.55%, and -41.11% respectively. The company has a low debt-to-equity ratio, and there is rising promoter confidence as they have increased their stake by 6.04%, indicating a belief in the company's future prospects. However, the company has faced poor long-term growth, with negative operating profits and declining net sales over the last five years, which raises concerns about its sustainability.
Broader market context reveals that while SPL Industries has seen a short-term uptick, it has consistently underperformed against the benchmark, with the Sensex showing a positive return of +1.76% over the past week and +4.49% year-to-date. The stock's performance is concerning given its long-term decline and the negative results declared in recent quarters, which have contributed to a significant drop in investor participation. The liquidity of the stock remains adequate for trading, but the overall trend indicates a risky investment due to its historical underperformance and declining profitability.