Why is Jagan Lamps falling/rising?

As of 18-Jul, Jagan Lamps Ltd is experiencing a price increase, currently at Rs 90.65, reflecting a rise of 1.94 or 2.19%. The stock has shown strong performance recently, gaining 17.27% over the last two days and outperforming its sector by 3.28%. It has also been trading above its moving averages across various time frames, indicating positive momentum. However, despite a year-to-date decline of 5.13% and a one-year return of -8.33%, the stock is trading at a discount compared to its peers, which may attract investor interest. The company's return on capital employed (ROCE) of 9.7 suggests an attractive valuation, although profits have decreased by 3.1% over the past year.
In the broader market context, Jagan Lamps has significantly outperformed the Sensex over the past week and month, with returns of 16.31% and 29.50%, respectively, while the benchmark has seen declines and minimal gains. This strong short-term performance contrasts with the Sensex's 0.38% increase over the past month, highlighting the stock's relative strength. However, the company faces challenges with weak long-term fundamentals, as indicated by a low average ROCE of 9.21% and flat results in recent quarters. These mixed signals suggest that while the stock is currently rising, underlying issues may affect its long-term growth potential.