Why is Alankit falling/rising?

As of 03-Jul, Alankit Ltd's stock price is currently at 15.88, reflecting an increase of 0.95 or 6.36%. The stock has shown a positive trend, gaining for the last three consecutive days and achieving an overall return of 8.54% during this period. It has outperformed its sector by 6.88% today. However, despite this recent uptick, the stock has experienced a significant decline of 31.99% over the past year, indicating a weak long-term performance. The stock is trading at a fair valuation with a Price to Book Value of 1.5, and while its profits have risen by 4.8%, the average Return on Equity (ROE) remains low at 7.6%, suggesting underlying fundamental weaknesses.
In the broader market context, Alankit's short-term performance stands in stark contrast to the benchmark Sensex, which has seen a decline of 0.62% over the past week while Alankit has risen by 9.44%. This indicates that the stock is gaining traction relative to the overall market. However, the stock's long-term performance remains concerning, as it has underperformed the BSE500 over the last three years and has generated negative returns in both the one-year and three-year periods. The falling investor participation, as evidenced by a decrease in delivery volume, may also signal caution among investors despite the recent price increase.