Why is Nahar Indl. Ent. falling/rising?

As of 12-Sep, Nahar Industrial Enterprises Ltd is experiencing a rise in its stock price, currently at Rs 115.85, reflecting an increase of Rs 2.8 or 2.48%. Today, the stock opened with a significant gain of 3.98% and reached an intraday high of Rs 117.55. Despite this positive movement, the stock has underperformed over the longer term, with a year-to-date decline of 15.10% and a one-year drop of 23.10%. The company has shown a profit increase of 27.5% over the past year, which contrasts with its stock performance, indicating a potential undervaluation. However, the stock's long-term fundamentals are weak, highlighted by a low Return on Capital Employed (ROCE) of 1.5 and a high Debt to EBITDA ratio of 5.76, which raises concerns about its financial health.
In the broader market context, the stock's short-term performance has slightly outpaced the benchmark, with a one-week return of 1.49% compared to the Sensex's 1.48%. However, the stock has lagged behind the benchmark in the longer term, particularly over the past year and three years. The falling investor participation, with a notable decrease in delivery volume, suggests a lack of confidence among investors, which may be contributing to the stock's volatility. Additionally, the minimal stake held by domestic mutual funds indicates a cautious sentiment towards the company's prospects, further impacting its market performance.