Why is Jagatjit Inds. falling/rising?

As of 18-Sep, Jagatjit Industries Ltd is experiencing a rise in its stock price, currently at Rs 239.00, reflecting an increase of Rs 14.0 or 6.22%. The stock has shown strong performance today, outperforming its sector by 6.19% and achieving a consecutive gain over the last two days with a total return of 15.46%. It reached an intraday high of Rs 239.8, while the day’s low was Rs 220. The stock is trading above its moving averages across various time frames, indicating positive momentum. However, despite these short-term gains, the company faces significant challenges, including a high debt-to-equity ratio of 7.5 times and negative results over the last six quarters, which contribute to its weak long-term fundamental strength.
In the broader market context, Jagatjit Industries has outperformed the Sensex in the short term, with a 1-week return of 13.62% compared to the Sensex's 1.80%. However, the stock has underperformed over the longer term, with a year-to-date return of -0.42% against the Sensex's +6.24%. The company's poor profitability metrics, such as a return on equity of only 4.19% and a negative EBITDA, suggest that while the stock is currently rising, it is still considered risky and may not be sustainable in the long run. The limited interest from domestic mutual funds, holding only 0.11% of the company, further indicates a lack of confidence in its future performance.