Why is Ruby Mills falling/rising?

As of 16-Jul, Ruby Mills Ltd. is experiencing a price increase, currently at Rs 254.45, which reflects a rise of 7.9 or 3.2%. The stock has shown strong performance today, outperforming its sector by 2.67% and achieving a consecutive gain over the last three days, with a total return of 7.16% during this period. It opened with a gain of 2.07% and reached an intraday high of Rs 254.45. Furthermore, Ruby Mills is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating positive momentum. However, despite this short-term performance, the company has weak long-term fundamentals, with a low return on capital employed (ROCE) of 5.15% and stagnant growth in net sales and operating profit over the past five years. Additionally, domestic mutual funds hold no stake in the company, suggesting a lack of confidence in its valuation or business prospects.
In the broader market context, Ruby Mills has outperformed the Sensex in the short term, with a 1-week return of +0.67% compared to the Sensex's -1.08%. However, the stock's year-to-date performance shows a decline of 1.40%, while the Sensex has increased by 5.75%. This indicates that while Ruby Mills is currently gaining traction, it has struggled to keep pace with the broader market over a longer timeframe. The stock's recent rise may be attributed to increased investor participation and liquidity, but the underlying weak fundamentals and lack of institutional support could pose challenges for sustained growth.