Why is Nova Agritech falling/rising?

As of 18-Jul, Nova Agritech Ltd's stock price is currently at Rs 59.00, reflecting an increase of Rs 2.05 or 3.6%. The stock has shown a strong performance today, outperforming its sector by 3.8%, with an intraday high of Rs 59.88, marking a rise of 5.14%. However, it also experienced a low of Rs 55.68, indicating some volatility. Over the past week, the stock has risen by 8.42%, while it has gained 19.80% over the past month. Despite these short-term gains, the stock has underperformed over the longer term, with a year-to-date return of -4.19% and a one-year return of -19.20%. The company's low Debt to EBITDA ratio of 0.59 times and a return on capital employed (ROCE) of 16.7 suggest a strong ability to service debt, but the flat operating profit growth and declining profits raise concerns about its long-term growth potential.
In the broader market context, while Nova Agritech has shown positive short-term returns, the benchmark Sensex has experienced a decline of 0.90% over the past week and a modest gain of 0.38% over the past month. This indicates that the stock's recent rise is not reflective of a broader market trend. Additionally, the stock's consistent underperformance against the benchmark over the last three years, coupled with a lack of domestic mutual fund investment, suggests that investor confidence may be wavering. The falling delivery volume and the stock's liquidity indicate a potential decrease in investor participation, which could impact future price movements.