Why is Ajcon Global falling/rising?

As of 22-Jul, Ajcon Global Services Ltd is experiencing a price increase, with its current price at 11.66, reflecting a change of 0.22 or 1.92% upward. The stock has shown strong performance recently, gaining 37.34% over the last 10 days and outperforming its sector by 2.13% today. In terms of returns, Ajcon Global has delivered an impressive 186.49% over the past year and 215.14% over the last three years, significantly outperforming the benchmark Sensex, which has only increased by 2.09% during the same period. However, it is important to note that the company is facing operating losses and has shown a decline in net sales growth, which raises concerns about its long-term fundamental strength.
In the broader market context, while Ajcon Global has outperformed the Sensex in both the short-term and long-term, the benchmark has seen a slight decline of 0.47% over the past week, contrasting with Ajcon's 12.12% gain. Despite its recent price rise, the stock's liquidity has been affected by a significant drop in delivery volume, which fell by 56.79% against the five-day average. Additionally, the company's weak long-term fundamentals, including a negative profit after tax and a high price-to-book value ratio compared to peers, may pose risks to its sustained performance, indicating that while the stock is currently rising, underlying issues could impact future movements.