Why is Veejay Lak. Eng. falling/rising?

As of 02-Sep, Veejay Lakshmi Engineering Works Ltd is experiencing a price increase, currently at Rs 61.50, reflecting a rise of 4.7 or 8.27%. Today's price movement is notable as the stock has gained after three consecutive days of decline, opening with a gain of 5.63%. It has outperformed its sector by 8.63% today, and the delivery volume has significantly increased by 806.37% against the 5-day average, indicating rising investor participation. However, despite this short-term gain, the stock has underperformed in the longer term, with a year-to-date decline of 30.86% and a one-year return of -28.49%, which is considerably worse than the broader market's performance.
In the broader market context, the stock's recent performance contrasts with the benchmark Sensex, which has shown a slight decline of 0.78% over the past week and a marginal drop of 0.55% over the past month. While the stock has seen a positive movement today, it is important to note the underlying challenges it faces, including operating losses and a weak long-term fundamental strength, as indicated by a high Debt to EBITDA ratio and poor sales growth. These factors contribute to a perception of risk surrounding the stock, which has historically traded at lower valuations compared to its average. Thus, while the current price increase may reflect short-term trading dynamics, the long-term outlook remains cautious.