Why is NMS Global falling/rising?

As of 09-Jul, NMS Global Ltd's stock price is rising, currently at Rs 63.99, reflecting an increase of 3.0 or 4.92%. The stock has shown strong performance recently, gaining 29.01% over the last six days and outperforming its sector by 5.29% today. Additionally, it has delivered impressive returns of 22.70% over the past week and 63.03% over the past month. Despite a significant decline of 34.90% over the past year, the company's profits have risen by 32%, and it is trading at a discount compared to its peers, which may contribute positively to investor sentiment. However, the stock faces challenges, including a high debt-to-equity ratio of 17.22, indicating weak long-term fundamental strength.
Broader market context shows that while NMS Global has outperformed the benchmark Sensex in the short term, with a 1-week return of 22.70% compared to the Sensex's 0.15%, it has underperformed over the longer term, with a 1-year return of -34.90% against the Sensex's 3.96%. The stock's recent gains may be driven by its attractive valuation and positive earnings growth, but the high debt levels and poor long-term growth metrics could temper investor enthusiasm moving forward. Overall, the current rise in stock price appears to be a response to short-term positive developments, despite underlying long-term concerns.