Why is Royal India Corp falling/rising?

As of 25-Jun, Royal India Corporation Ltd's stock price is currently at 9.01, reflecting an increase of 0.16 or 1.81%. The stock has been gaining for the last two days, with a total return of 2.15% during this period. It has outperformed its sector by 0.58% today. Despite this recent positive movement, the stock has a year-to-date decline of 66.52% and a one-year decline of 73.73%. The company has reported significant growth in net profit and positive results over the last three quarters, which may have contributed to the recent price increase. However, the stock is still trading at a discount compared to its peers, and it has a high debt-to-equity ratio, indicating potential long-term weaknesses.
In the broader market context, Royal India Corporation's short-term return of 2.74% over the past week outperformed the Sensex, which returned 1.61% in the same period. However, the stock has underperformed the market significantly over the past year, where the BSE 500 generated a return of 3.43%. This stark contrast highlights the challenges the company faces despite recent positive developments. The high debt levels and weak long-term growth prospects may continue to weigh on investor sentiment, even as short-term gains are observed.