Why is NLC India falling/rising?

As of 16-Jul, NLC India Ltd. is experiencing a price increase, currently at Rs 238.25, reflecting a rise of Rs 8.45 or 3.68%. The stock has shown strong performance today, outperforming its sector by 3.4% and achieving a consecutive gain over the last two days with a total return of 5.05%. It reached an intraday high of Rs 239.75, and its trading volume has increased significantly, indicating rising investor participation. Despite a year-to-date decline of 5.27% and a one-year drop of 18.67%, the company's recent financial results have been positive, with a substantial growth in profit after tax and net sales, contributing to an attractive valuation compared to peers. However, concerns remain regarding its high Debt to EBITDA ratio, which may impact long-term growth prospects.
In the broader market context, NLC India's short-term performance has been notably better than the benchmark, with a one-week return of 5.63% compared to the Sensex's decline of 1.08%. This indicates that while the stock has struggled over the longer term, it has recently gained traction against the market backdrop. The company's high institutional holdings suggest confidence from knowledgeable investors, which may also support the stock's upward movement. Nonetheless, the overall negative sentiment from its long-term underperformance and high debt levels could temper enthusiasm among some investors.