Why is Rathi Steel falling/rising?

As of 24-Jun, Rathi Steel & Power Ltd's stock price is rising, currently at Rs 29.12, reflecting an increase of Rs 2.42 or 9.06%. The stock has shown a strong performance today, outperforming its sector by 7.77% and achieving a consecutive gain over the last three days with a total return of 10.51%. Despite a wide trading range and high volatility today, the stock has been trading above its 5-day moving average, although it remains below its longer-term moving averages. The company's recent positive financial results, including a significant growth in operating profit and net sales, alongside rising promoter confidence with an increased stake, have contributed to the stock's upward movement. However, the stock's long-term fundamentals remain weak, with a poor EBIT to Interest ratio and low return on equity, which could temper investor enthusiasm.
In the broader market context, Rathi Steel's short-term return of +5.47% over the past week significantly outpaces the Sensex, which has only gained +0.58% in the same period. Despite this positive short-term performance, the stock has underperformed the benchmark over longer time frames, including a -7.73% return over the past month and a -29.41% year-to-date return, indicating challenges in maintaining investor confidence in the long run. The contrasting short-term gains against a backdrop of long-term underperformance highlight the volatility and potential risks associated with investing in Rathi Steel & Power Ltd.