Why is Starcom Info. falling/rising?

As of 29-Jul, Starcom Information Technology Ltd is experiencing a price increase, currently at Rs 69.91, reflecting a rise of 1.37 or 2.0%. The stock has shown significant short-term gains, outperforming its sector by 2.09% today and achieving a remarkable 28.84% increase over the last eight consecutive days. In the past week and month, the stock has surged by 16.95% and 24.86%, respectively. However, despite these recent gains, the company faces challenges such as a negative book value, a high debt-to-equity ratio, and a history of poor long-term growth, with net sales declining at an annual rate of 25.97%. Additionally, promoter confidence appears to be waning, as they have reduced their stake by 9.21% in the previous quarter, which may negatively impact investor sentiment.
In the broader market context, while Starcom has outperformed the Sensex in the short term, the stock has consistently underperformed against the benchmark over the last three years, with a year-to-date decline of 39.21% compared to the Sensex's gain of 4.09%. This stark contrast highlights the stock's volatility and the risks associated with its long-term fundamentals. Despite the recent positive momentum, the overall performance relative to the market suggests that investors should remain cautious, given the company's ongoing financial struggles and decreasing promoter confidence.