Why is Variman Global falling/rising?

As of 01-Jul, Variman Global Enterprises Ltd is experiencing a price increase, with its current price at 17.49, reflecting a rise of 0.47 or 2.76%. The stock has shown strong performance recently, gaining 18.74% over the last four days and outperforming its sector by 2.9% today. Additionally, the stock has demonstrated impressive returns over various periods, including a 12.84% increase over the past week and an 86.86% increase over the past month. However, despite these short-term gains, the company faces challenges such as operating losses and a weak long-term fundamental strength, with a decline in profits and negative quarterly results, which could impact investor sentiment.
In the broader market context, Variman's short-term performance significantly outpaces the benchmark, with a 12.84% return over the past week compared to the Sensex's 2.00% increase. While institutional investors have increased their stake, indicating some confidence in the stock, the company has consistently underperformed against benchmarks over the last three years, raising concerns about its long-term viability. The stock's high valuation relative to its peers, coupled with a negative return over the past year, suggests that while there may be short-term momentum, the underlying fundamentals may not support sustained growth.