Why is Alankit falling/rising?

As of 11-Jul, Alankit Ltd's stock price is currently at 17.03, reflecting an increase of 1.03 or 6.44%. The stock has shown positive momentum recently, gaining 6.97% over the last two days and outperforming its sector by 7.36% today. It opened with a 2% gain and reached an intraday high of Rs 18.07, indicating strong short-term interest. However, despite these gains, the stock has underperformed over the past year, with a return of -28.83%. The company has a fair valuation with a Price to Book Value of 1.6, but its average Return on Equity (ROE) of 7.6 suggests weak long-term fundamental strength. Additionally, a significant portion of its profits comes from non-operating income, which raises concerns about sustainability.
In the broader market context, Alankit Ltd's recent performance contrasts sharply with the benchmark, as it has gained 7.31% over the past week while the Sensex has declined by 1.12%. This short-term outperformance highlights a divergence from the overall market trend, where the stock has struggled significantly over the longer term, evidenced by a year-to-date decline of 22.17% compared to the Sensex's gain of 5.58%. The stock's liquidity remains adequate for trading, but a notable drop in delivery volume suggests a decline in investor participation, which could impact future price movements.