Why is Prajay Engineers falling/rising?

As of 29-Aug, Prajay Engineers Syndicate Ltd is experiencing a significant rise in its stock price, currently at Rs 26.88, reflecting an increase of Rs 3.38 or 14.38%. The stock has outperformed its sector by 15.45% today, reaching an intraday high of Rs 27.6, which is a 17.45% increase. Over the past week, the stock has shown a remarkable return of +19.57%, and for the month, it has increased by +38.91%. However, despite these short-term gains, the company faces challenges such as operating losses and a weak long-term fundamental strength, indicated by a poor EBIT to Interest ratio of -12.29 and negative return on equity. This backdrop of financial instability may contribute to the stock's volatility, which has been high today with an intraday volatility of 5.67%.
In the broader market context, while the Sensex has declined by 1.84% over the past week and 1.88% over the past month, Prajay Engineers has managed to significantly outperform these benchmarks. Despite a year-to-date decline of -9.49% for the stock, its recent performance contrasts sharply with the broader market's negative trajectory, suggesting a potential shift in investor sentiment. However, it is important to note that the stock has underperformed the market over the past year, with a return of -37.92% compared to the BSE500's -5.40%. This divergence highlights the stock's recent recovery amidst ongoing concerns regarding its long-term viability and financial health.