Why is Jagan Lamps falling/rising?

As of 22-Sep, Jagan Lamps Ltd is currently priced at 82.03, reflecting an increase of 0.63 or 0.77%. The stock has shown a positive trend today, outperforming its sector by 0.88% and reversing a three-day decline. It is trading above its moving averages across various time frames, indicating a potential upward momentum. However, there is a notable decline in investor participation, with delivery volume dropping by 58.61% compared to the five-day average. Despite a year-to-date decline of 14.15%, the stock has demonstrated strong performance over the longer term, with a 41.07% increase over three years and a remarkable 379.71% rise over five years. The company has an attractive valuation with a return on capital employed (ROCE) of 8.1, although it has underperformed the market in the past year.
In the broader market context, Jagan Lamps has outperformed the Sensex in the short term, with a weekly return of 3.22% compared to the benchmark's 0.46%. However, the stock's long-term performance has been weaker, with a 14.15% decline year-to-date versus a 5.15% gain in the Sensex. This underperformance is compounded by negative financial results reported in June, which included the lowest net sales and profit before tax figures. While the stock is trading at a discount compared to its peers, the weak long-term fundamental strength and declining investor interest may pose challenges for sustained growth.