Why is Ruby Mills falling/rising?

As of 15-Jul, Ruby Mills Ltd. is experiencing a price increase, currently at Rs 246.55, reflecting a rise of 6.0 or 2.49%. The stock has shown a positive performance today, outperforming its sector by 1.15%, and has gained consecutively over the last two days, with a total return of 3.83% during this period. The stock reached an intraday high of Rs 254, indicating strong trading activity. However, despite these gains, the stock has underperformed over the past week with a decline of 2.12% and a year-to-date drop of 4.46%. The company faces challenges such as weak long-term fundamental strength, evidenced by a low Return on Capital Employed (ROCE) of 5.15% and stagnant growth in net sales and operating profit over the last five years. Additionally, the significant reliance on non-operating income raises concerns about the sustainability of its profits.
In the broader market context, Ruby Mills' recent performance contrasts with the Sensex, which has seen a decline of 1.36% over the past week. While the stock has shown a notable increase in the short term, its long-term outlook remains uncertain, as indicated by the lack of domestic mutual fund investment and a decline in profits over the past year. The stock's valuation appears expensive relative to its peers, which may deter long-term investors. Overall, while the recent price movement is positive, underlying fundamental weaknesses and market sentiment may limit sustained growth.