Why is Chennai Ferrous falling/rising?

As of 03-Jul, Chennai Ferrous Industries Ltd is experiencing a price increase, with its current price at Rs 120.55, reflecting a rise of Rs 1.85 or 1.56%. Today, the stock opened with a significant gain of 4.42% and reached an intraday high of Rs 127, marking a 6.99% increase. The stock has outperformed its sector by 1.98% today, and there has been a notable rise in investor participation, with delivery volume increasing by 136.54% compared to the 5-day average. Despite a year-to-date decline of 8.33%, the stock has shown a positive return of 7.11% over the past month, indicating a recent recovery. The company has reported positive results for the last four consecutive quarters, with net sales growing by 165.73%, contributing to the stock's upward movement. However, it is important to note that the stock's profits have decreased by 16.9% over the past year, which may temper investor enthusiasm.
In the broader market context, Chennai Ferrous has outperformed the Sensex in the short term, with a 1-week return of -0.37% compared to the benchmark's -0.62%, and a 1-month return of +7.11% against the Sensex's +3.10%. This suggests that while the stock is currently rising, it has faced challenges over a longer time frame, as evidenced by its year-to-date decline and a significant drop of 59.11% over the past three years. The stock is trading at a premium relative to its peers, which may attract some investors despite the weak long-term fundamental strength indicated by an 18.68% CAGR growth in operating profits over the last five years. Overall, the recent positive performance and investor interest seem to be driving the stock's price upward, despite underlying concerns regarding its profitability and long-term growth potential.