Why is Bhagiradha Chem. falling/rising?

As of 11-Nov, Bhagiradha Chemicals & Industries Ltd is experiencing a price increase, currently at Rs 257.65, reflecting a rise of Rs 12.4 or 5.06%. The stock has shown positive momentum, gaining for three consecutive days with a total return of 6.91% during this period. It has outperformed its sector by 5.49% today and reached an intraday high of Rs 259. However, despite this recent uptick, the stock has underperformed over the longer term, with a year-to-date decline of 13.70% and a one-year drop of 22.91%. Factors contributing to the stock's recent rise include a strong ability to service debt, indicated by a low Debt to EBITDA ratio of 0.99 times, and healthy long-term growth with an annual operating profit increase of 46.95%. Conversely, the company has faced challenges, such as a significant decline in PAT and operating cash flow, alongside a very expensive valuation relative to its peers.
In the broader market context, the stock's short-term performance of +4.25% over the past week significantly outpaces the Sensex's gain of only +0.49%. However, the stock has notably lagged behind the market over the past year, where the BSE500 index has returned +4.43%, while Bhagiradha Chemicals has seen a substantial negative return of -22.91%. This stark contrast highlights the stock's struggles despite its recent gains, suggesting that investor sentiment may still be cautious given the company's overall performance and the lack of domestic mutual fund investment, which indicates a lack of confidence in its valuation or business prospects.