Why is Ashoka Metcast falling/rising?

As of 18-Sep, Ashoka Metcast Ltd's stock price is currently at Rs 19.20, reflecting an increase of Rs 2.69 or 16.29%. The stock has shown strong performance today, outperforming its sector by 17.05% and achieving a consecutive gain over the last two days with a total return of 16.43%. It reached an intraday high of Rs 19.49, indicating significant upward momentum. Despite a year-to-date decline of 18.92%, the stock has performed well in the short term, with a 1-week return of 15.87% and a 1-month return of 8.47%. The company exhibits a very attractive valuation with a return on capital employed (ROCE) of 2.5 and a PEG ratio of 0.4, although it has faced challenges with a negative growth rate in operating profits over the past five years.
In the broader market context, Ashoka Metcast's recent performance contrasts sharply with the Sensex, which has only increased by 1.80% over the past week. This indicates that the stock is gaining traction among investors, likely due to rising investor participation, as evidenced by an increase in delivery volume. However, it is important to note that the company has faced significant long-term challenges, including a -24.25% compound annual growth rate in operating profits and a low average return on equity of 5.42%. These factors suggest that while the stock is experiencing a short-term rally, underlying fundamental weaknesses may pose risks for sustained growth.