Why is Tejas Networks falling/rising?

As of 21-Aug, Tejas Networks Ltd is experiencing a price increase, currently at 619.90, reflecting a rise of 39.05 (6.72%). The stock has shown strong performance today, outperforming its sector by 5.55% and reaching an intraday high of Rs 646.35, which is an increase of 11.28%. Over the past week, the stock has gained 11.93%, although it has seen a decline of 1.63% over the past month and a significant drop of 51.57% over the past year. Despite the positive movement today, the company has faced challenges, including a drastic fall in net sales of -87.08% and a negative PAT of Rs -193.87 cr, which has contributed to a negative sentiment around the stock. Additionally, institutional investor participation has decreased, indicating a lack of confidence among larger investors.
In the broader market context, Tejas Networks' short-term performance of +11.93% over the past week significantly outpaces the Sensex, which has only increased by 1.74% in the same period. However, the stock's year-to-date performance remains concerning, with a decline of 47.65% compared to a 4.94% increase in the Sensex. The company has shown healthy long-term growth in net sales and operating profit, but the recent negative results and falling institutional interest suggest a complex situation. The stock is trading at a discount compared to its peers, which may attract some investors, but the overall underperformance in both the long and short term raises caution among potential buyers.