Why is AIA Engineering falling/rising?

As of 06-Aug, AIA Engineering Ltd's stock price is currently at 3,185.80, reflecting an increase of 41.45 or 1.32%. The stock has been gaining for the last two days, with a total return of 3.85% during this period. It outperformed its sector by 1.59% today and reached an intraday high of Rs 3211, which is a 2.12% increase. However, the stock has shown poor performance over the longer term, with a decline of 28.94% over the past year and a 5.73% drop year-to-date. While the company boasts high management efficiency with a return on equity (ROE) of 15.46% and a low debt-to-equity ratio, it faces challenges such as flat net sales growth and a high price-to-book value ratio, indicating a potentially expensive valuation compared to peers.
In the broader market context, AIA Engineering's short-term performance contrasts with the benchmark Sensex, which has declined by 1.15% over the past week, suggesting that the stock's recent gains may be somewhat isolated. Despite the stock's recent uptick, its long-term outlook remains concerning, as indicated by its underperformance relative to the BSE500 over the last three years and the negative returns generated in the past year. The falling investor participation, as evidenced by a decrease in delivery volume, further complicates the stock's recovery prospects, indicating that while there may be short-term gains, the overall sentiment towards the stock remains cautious.