Why is Diligent Indust. falling/rising?

As of 18-Jul, Diligent Industries Ltd's stock price is currently at 2.39, reflecting an increase of 0.04 or 1.7%. The stock has been on an upward trend, gaining for six consecutive days and achieving a total return of 9.63% during this period. It has outperformed its sector by 1.93% today. However, despite this recent positive movement, the stock has a year-to-date decline of 26.91% and a significant drop of 50.10% over the past year. The company has a very attractive valuation with a return on capital employed (ROCE) of 6.1, and it is trading at a discount compared to its peers. Nevertheless, it faces challenges such as weak long-term fundamental strength and a high debt-to-EBITDA ratio, which may hinder its growth potential.
In the broader market context, Diligent Industries Ltd has outperformed the Sensex by 7.66% over the past week, while the benchmark has declined by 0.90%. This short-term performance contrasts sharply with the stock's long-term underperformance, as it has consistently lagged behind the benchmark over the last three years. The stock's liquidity remains adequate for trading, but there has been a notable decline in investor participation, with delivery volume dropping significantly. Overall, while the recent gains may indicate a temporary recovery, the long-term outlook remains uncertain due to fundamental weaknesses and ongoing challenges in the market.