Why is South. Magnesium falling/rising?

As of 14-Jul, Southern Magnesium & Chemicals Ltd is experiencing a price increase, currently at Rs 138.75, which reflects a rise of Rs 7.95 or 6.08%. The stock has shown strong performance today, outperforming its sector by 3.86% and achieving a consecutive gain over the last two days with an overall increase of 11%. It opened with a significant gain of 6.04% and reached an intraday high of Rs 138.75. Despite these positive movements, the company faces challenges, including operating losses and a weak long-term fundamental strength, as indicated by a negative PAT growth of -50.18% and a low PBDIT. The stock's valuation is considered expensive compared to its peers, trading at a premium with a Price to Book Value of 3.3.
In the broader market context, the stock has outperformed the benchmark Sensex in the short term, with a 1-week return of +6.73% compared to the Sensex's -1.42%. However, the stock has significantly underperformed over the longer term, with a year-to-date decline of -46.84% against the Sensex's +5.27%. This stark contrast highlights the volatility and challenges faced by Southern Magnesium & Chemicals Ltd, as it struggles with declining profits and operational issues while experiencing short-term gains in a fluctuating market.