Why is Steel Exchange falling/rising?

As of 27-Jun, Steel Exchange India Ltd is experiencing a rise in its stock price, currently at 9.95, with a change of 0.92, representing a 10.19% increase. The stock has been gaining for the last four days, resulting in a total return of 24.84% during this period. It has outperformed its sector by 10.37% today and is trading above all key moving averages, indicating strong short-term momentum. Despite a year-to-date decline of 2.64% and a significant one-year drop of 31.94%, the company has shown a remarkable profit increase of 138.2%, leading to a very attractive valuation with a PEG ratio of 0.4. However, concerns remain due to weak long-term fundamentals, including a high Debt to EBITDA ratio and a significant proportion of pledged promoter shares, which could exert downward pressure on the stock.
In the broader market context, Steel Exchange's short-term performance of +22.54% over the past week significantly outpaces the Sensex's gain of 2.00% during the same period. While the stock has underperformed against the benchmark over the last three years, its recent gains suggest a shift in investor sentiment, likely driven by rising participation and liquidity. The stock's current trading dynamics, alongside its attractive valuation metrics, may be contributing to its recent upward movement, despite the underlying long-term challenges it faces.