Why is Blue Dart Expres falling/rising?

As of 23-Jul, Blue Dart Express Ltd is experiencing a price increase, currently at 6,890.30, reflecting a rise of 173.3 or 2.58%. The stock has shown a positive trend today, outperforming its sector by 1.77% and reversing a three-day decline. It reached an intraday high of Rs 6898.95, and is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. However, there has been a notable decline in investor participation, with delivery volume dropping by 56.94% compared to the 5-day average. While the stock has generated a negative return of -12.12% over the past year, it has demonstrated strong management efficiency with a high ROCE of 24.38% and a low Debt to EBITDA ratio of 0.87 times, indicating a solid ability to service debt.
In the broader market context, Blue Dart's short-term performance of +0.34% over the past week outpaces the Sensex's +0.11% return, and its +11.63% return over the past month significantly exceeds the Sensex's +1.01%. Despite these positive short-term movements, the stock has consistently underperformed against the benchmark over the last three years, with a -17.75% return compared to the Sensex's +47.54%. This underperformance, coupled with negative financial results from March 25, where both PBT and PAT fell significantly, suggests that while the stock may be rising in the short term, it faces challenges that could impact its long-term valuation and investor confidence.