Why is Raj Oil Mills falling/rising?

As of 27-Jun, Raj Oil Mills Ltd is experiencing a price increase, currently at 57.02, reflecting a rise of 0.78 or 1.39%. The stock has outperformed its sector by 4% today and is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating positive momentum. Over the past month, the stock has seen a significant increase of 21.45%, although it has underperformed the benchmark Sensex, which rose by 3.07%. The company has reported positive results for the last three consecutive quarters, with a higher profit after tax and operating profit, which may contribute to the stock's upward movement. However, it is important to note that the stock has a negative book value and a weak long-term fundamental strength, which raises concerns about its sustainability.
In the broader market context, while Raj Oil Mills has shown a positive return of 9.65% year-to-date, it has lagged behind the Sensex, which has increased by 7.58% in the same period. The stock's recent performance is contrasted by a significant drop in investor participation, with delivery volume falling by 63.52% against the 5-day average, suggesting a potential decrease in demand. The company's high debt levels and negative book value further complicate its outlook, making it a risky investment despite its recent gains. Overall, while short-term movements may appear favorable, the long-term fundamentals present a cautionary tale for investors.