Why is Redtape falling/rising?

As of 07-Jul, Redtape Ltd's stock price is currently at 140.65, reflecting an increase of 9.25 or 7.04%. The stock has shown strong performance recently, outperforming its sector by 5.84% today and achieving a consecutive gain over the last two days with a total return of 11.19%. Additionally, the stock has experienced a significant rise in delivery volume, increasing by 790.63% against the 5-day average, indicating heightened investor interest. Despite a year-to-date decline of 35.61% and a one-year return of -23.89%, the company has demonstrated high management efficiency with a return on capital employed (ROCE) of 20.25% and impressive long-term growth in net sales and operating profit.
In the broader market context, Redtape's short-term return of +6.55% over the past week contrasts sharply with the Sensex, which has declined by 0.20%. While the stock has recently gained momentum, it has consistently underperformed against the benchmark over the last three years, raising concerns about its long-term viability. The stock is trading at a discount compared to its peers, but its high PEG ratio of 5.3 and declining profitability metrics, such as a low operating profit to interest ratio, suggest that investors remain cautious. Overall, while recent performance has been positive, the stock's historical underperformance and valuation concerns may temper enthusiasm among investors.