Why is Jai Corp falling/rising?

As of 03-Sep, Jai Corp Ltd's stock price is currently at Rs 168.05, reflecting an increase of Rs 26.25 or 18.51%. The stock has shown strong performance recently, outperforming its sector by 17.56% today and achieving a consecutive gain over the last four days with a total return of 40.63%. The stock has also been trading above its moving averages for various periods, indicating positive momentum. Despite a significant decline in year-to-date returns of -48.58% and a one-year return of -54.17%, the company reported positive quarterly results with a highest PAT of Rs 104.33 crore and an EPS of Rs 5.94, which may have contributed to the recent price increase. However, the company faces challenges such as low management efficiency, indicated by a low ROE of 4.23%, and poor long-term growth, with net sales growing at only 1.00% annually over the last five years.
In the broader market context, Jai Corp's short-term return of +37.02% over the past week contrasts sharply with the Sensex, which has seen a slight decline of -0.27% during the same period. This suggests that the stock's recent rise is not reflective of the overall market trend. Additionally, while institutional investor participation has decreased, the stock's liquidity remains adequate for trading, which may support its recent upward movement. Overall, despite the positive short-term performance, the long-term outlook remains uncertain due to the company's low profitability metrics and declining institutional interest.