Why is South. Magnesium falling/rising?

As of 15-Jul, Southern Magnesium & Chemicals Ltd's stock price is rising, currently at Rs 152.60, reflecting an increase of Rs 13.85 or 9.98%. The stock has shown strong performance recently, gaining 22.08% over the last three days and outperforming its sector by 9.86% today. It opened with a gain of 4.5% and reached an intraday high of Rs 152.60. However, despite this recent surge, the company has reported significant operating losses and a weak long-term fundamental strength, with a negative PAT growth of -50.18% and a PBDIT of Rs -0.20 crore. The stock is trading at a premium compared to its peers, which may raise concerns among investors about its valuation.
In the broader market context, the stock has outperformed the Sensex over the past week and month, with returns of +17.38% and +20.16%, respectively, while the Sensex has declined by -1.36% and increased by +1.79%. However, it has underperformed significantly over the year, with a return of -35.06% compared to the market's positive return of +2.36%. This stark contrast highlights the volatility and challenges faced by Southern Magnesium & Chemicals Ltd, despite its recent price increase.