Why is Ruby Mills falling/rising?

As of 26-Jun, Ruby Mills Ltd. has experienced a slight increase in its stock price, currently at 237.20, reflecting a change of 0.85 or 0.36% upward. The stock has shown a strong performance over the past week and month, with returns of +5.49% and +10.35% respectively, outperforming the Sensex, which returned +2.94% and +1.92% in the same periods. However, the stock has underperformed its sector today by -0.56%. Despite trading above its moving averages, there has been a notable decline in investor participation, with delivery volume falling by -30.27% against the 5-day average. Additionally, the company's long-term fundamentals are weak, indicated by a low Return on Capital Employed (ROCE) of 5.15% and poor growth in net sales and operating profit over the last five years. This has led to concerns about its valuation, as it trades at a discount compared to peers, while domestic mutual funds hold no stake in the company, suggesting a lack of confidence in its prospects.
In the broader market context, Ruby Mills' recent performance contrasts with the benchmark, as it has outperformed the Sensex in the short term but has a year-to-date return of -8.08%, while the Sensex has gained +7.19%. This divergence highlights the stock's volatility and the challenges it faces despite recent gains. The overall market sentiment may be influenced by the company's flat results and reliance on non-operating income, which could deter long-term investors. The combination of weak fundamentals and declining investor interest may contribute to a cautious outlook for Ruby Mills, despite its recent price increase.