Why is Jagan Lamps falling/rising?

As of 02-Jul, Jagan Lamps Ltd is experiencing a price increase, currently at Rs 86.95, reflecting a rise of Rs 3.94 or 4.75%. The stock has shown strong performance today, outperforming its sector by 3.98% and achieving a consecutive gain over the last two days with a total return of 26.9%. It opened with a significant gain of 11.78% and reached an intraday high of Rs 95.9. The stock is trading above all its moving averages, indicating positive momentum. Additionally, there has been a notable increase in investor participation, with delivery volume rising by 2786.35% compared to the five-day average. However, despite its recent gains, the stock has underperformed over the past year, with a return of -10.53% and a decline in profits by -3.1%.
In the broader market context, Jagan Lamps has significantly outperformed the benchmark Sensex in the short term, with a one-week return of +27.70% compared to the Sensex's +0.79%. While the stock has shown volatility and positive short-term trends, it has struggled with long-term fundamentals, reflected in its average Return on Capital Employed (ROCE) of 9.21% and flat results in recent quarters. The stock's valuation remains attractive compared to peers, but its long-term growth prospects appear weak, contributing to its mixed performance in the market.