Why is Digjam falling/rising?

As of 24-Jul, Digjam Ltd's stock price is currently at Rs 58.67, reflecting an increase of Rs 1.15 or 2.0%. The stock has been on a positive trajectory, gaining for the last 19 consecutive days and achieving a remarkable 78.17% return during this period. It opened with a 2% gain today and reached an intraday high of Rs 58.67. Additionally, the stock has outperformed its sector by 1.98% today. However, despite these short-term gains, the company faces significant challenges, including a high debt-to-equity ratio of 10.6 times, which indicates weak long-term fundamental strength. The company has also reported poor financial results, with a negative EBITDA and a substantial decline in profits over the past year, contributing to its overall underperformance against benchmarks over the last three years.
In the broader market context, Digjam's short-term performance has significantly outpaced the Sensex, with a 10.36% increase over the past week compared to a slight decline of 0.09% for the benchmark. Over the past month, Digjam has surged by 72.56%, while the Sensex has only increased by 0.16%. Despite these impressive short-term returns, the stock has underperformed over longer periods, with a year-to-date decline of 8.40% compared to a 5.18% gain in the Sensex. This juxtaposition highlights the stock's volatility and the potential risks associated with its high debt levels and inconsistent financial performance, which may temper investor enthusiasm despite recent gains.