Why is Ugar Sugar Works falling/rising?

As of 08-Jul, Ugar Sugar Works Ltd. is experiencing a price increase, currently at Rs 50.49, reflecting a rise of 1.0 (2.02%). The stock has outperformed its sector today by 2.66%, reaching an intraday high of Rs 50.49. Over the past week, the stock has gained 1.45%, and in the last month, it has risen by 1.94%. However, it has significantly underperformed on a year-to-date basis with a decline of 26.96% and a one-year drop of 37.47%. Positive factors contributing to the recent price movement include an increase in promoter confidence, as they have raised their stake by 1.81%, indicating optimism about the company's future. Additionally, the company reported strong financial results with a higher profit after tax and record net sales, although it faces challenges such as high debt and a poor long-term growth outlook.
In the broader market context, while Ugar Sugar Works has shown short-term gains, it has still lagged behind the benchmark Sensex, which has seen a minimal increase of 0.02% over the past week. The stock's performance over the last year is particularly concerning, as it has generated negative returns of -37.47%, contrasting sharply with the Sensex's positive return of 4.69%. This underperformance highlights the challenges the company faces despite some recent positive developments, suggesting that while there may be short-term optimism, long-term concerns remain prevalent.