Why is Digjam falling/rising?

As of 08-Jul, Digjam Ltd's stock price is currently at Rs 46.30, reflecting an increase of Rs 2.2, or 4.99%. The stock has shown significant positive momentum, gaining 40.6% over the last seven days and outperforming its sector by 3.16% today. It opened with a gain of 4.99% and reached an intraday high of Rs 46.30. However, despite this recent surge, the company faces challenges, including a high debt-to-equity ratio of 10.6 times, indicating weak long-term fundamental strength. Additionally, the company has reported poor financial performance, with a significant decline in profits and consistent underperformance against benchmarks over the past three years.
In the broader market context, Digjam's short-term performance has been notably strong, with a 27.58% increase over the past week, while the Sensex has only risen by 0.02% during the same period. This stark contrast highlights the stock's recent recovery despite its overall negative performance year-to-date, where it has declined by 27.71% compared to the Sensex's 7.13% gain. The stock's liquidity remains adequate for trading, but a significant drop in delivery volume suggests a potential decline in investor participation, which could impact future price movements.