Why is Visaka Industrie falling/rising?

As of 01-Jul, Visaka Industries Ltd is experiencing a slight increase in its stock price, currently at 94.00, reflecting a change of 0.3 or 0.32% upward. The stock has shown strong performance recently, gaining 12.24% over the last three days, although it underperformed its sector by 1.14% today. Additionally, the stock has been trading above its moving averages for 5, 20, 50, 100, and 200 days, indicating positive momentum. Despite a year-to-date return of 6.14%, the stock has faced challenges, including a significant decline of 17.94% over the past year and a troubling -388% drop in profits. However, the recent declaration of positive results after ten consecutive negative quarters, along with attractive valuations compared to peers, may be contributing to the stock's recent upward movement.
In the broader market context, Visaka Industries has outperformed the Sensex in the short term, with a 1-week return of 11.51% compared to the benchmark's 2.00%. This short-term strength contrasts with the stock's long-term underperformance, as it has consistently lagged behind the benchmark over the last three years. The low participation from domestic mutual funds, holding only 0.1% of the company, suggests a lack of confidence in the stock's long-term prospects, which could be a factor in its historical underperformance. Overall, while recent positive developments may have spurred a short-term rise, the stock's long-term fundamentals remain a concern for investors.