Why is Sangam India falling/rising?

As of 08-Jul, Sangam (India) Ltd's stock price is currently at 463.45, reflecting an increase of 21.15 or 4.78%. Today, the stock has shown a trend reversal, gaining after two consecutive days of decline, and it outperformed its sector by 2.95%. The stock reached an intraday high of Rs 470.9, indicating strong intraday performance. Over the past month, Sangam's stock has risen by 8.22%, significantly outperforming the benchmark Sensex, which increased by only 1.85%. However, the stock's delivery volume has decreased by 65.3% compared to the 5-day average, suggesting a decline in investor participation. Despite a fair valuation indicated by a ROCE of 6.5 and trading at a discount to peers, the company has faced challenges with a 21.3% drop in profits over the past year, which could be contributing to mixed investor sentiment.
In the broader market context, Sangam's performance over the past year has been notably strong, with a return of 12.19%, significantly higher than the BSE500's return of 1.98%. This outperformance may attract some investors despite the company's long-term fundamental weaknesses, such as a high Debt to EBITDA ratio and negative results over the last ten quarters. The stock's ability to generate returns in the short term contrasts with its weak long-term growth prospects, as evidenced by low net sales growth and operating profit margins. The lack of investment from domestic mutual funds, holding only 0% of the company, may indicate a cautious outlook from institutional investors, further complicating the stock's appeal in the current market environment.