Why is Bharat Rasayan falling/rising?

As of 02-Jul, Bharat Rasayan Ltd. is experiencing a price increase, currently at 11,564.00, reflecting a rise of 496.0 or 4.48%. The stock has shown strong performance recently, gaining 11.63% over the last three days and outperforming its sector by 4.07% today. Despite opening lower with a loss of 3.23%, it reached an intraday high of Rs 11,731.7, indicating volatility within the trading day. Over the past week, the stock has increased by 14.47%, and over the past month, it has risen by 28.18%. However, it has faced challenges, including a decline in delivery volume by 10.17% against the five-day average, which may indicate falling investor participation. The company boasts a high management efficiency with a return on equity (ROE) of 16.47% and a low debt-to-equity ratio, but it has also seen poor long-term growth, with operating profit declining at an annual rate of 8.80% over the last five years.
In the broader market context, Bharat Rasayan's short-term performance significantly outpaces the benchmark, with the stock's 1-week return of 14.47% compared to the Sensex's 0.79%. While the stock has generated a return of -1.04% over the past year, it has underperformed against the BSE500 in the last three annual periods. The stock's valuation appears expensive with a price-to-book value of 4.3, despite trading at a discount compared to its peers' average historical valuations. This combination of strong short-term performance and ongoing concerns about long-term growth may contribute to the stock's recent upward movement, despite the underlying challenges it faces.