Why is PNB Gilts falling/rising?

As of 30-Jun, PNB Gilts Ltd is experiencing a price increase, currently at 99.85, reflecting a change of 0.9 (0.91%) upward. The stock has shown positive momentum, having outperformed its sector by 0.39% today and achieving consecutive gains over the last two days with a total return of 0.96%. In the short term, the stock has returned 6.14% over the past week, while it has also performed positively over the last month with a return of 2.10%. Despite a significant decline of 31.02% over the past year, the company reported a higher profit after tax of Rs 177.62 Cr for the nine-month period, alongside a notable growth in profit before tax. However, the stock's long-term fundamental strength is questioned due to a relatively low return on equity of 13.28% and minimal domestic mutual fund investment, indicating potential concerns among institutional investors.
In the broader market context, while PNB Gilts has outperformed the benchmark Sensex in the short term, which has returned 2.09% over the past week, it has significantly underperformed over the last year compared to the market's 7.00% gain. The stock's recent rise may be attributed to improved investor participation, as evidenced by a 10.29% increase in delivery volume. However, the overall negative sentiment surrounding its long-term performance, reflected in the substantial year-to-date decline of 8.01%, suggests that while there may be short-term gains, the stock's long-term outlook remains uncertain.