Why is Alankit falling/rising?

As of 04-Jul, Alankit Ltd's stock price is currently at 15.87, reflecting a slight decrease of 0.01, or 0.06%. The stock has recently experienced a trend reversal, falling after three consecutive days of gains. Despite this decline, the stock has shown a positive performance over the past week and month, with returns of 7.96% and 8.55%, respectively. However, it has underperformed significantly over the longer term, with a year-to-date decline of 27.47% and a one-year return of -32.58%. The stock is trading at a premium compared to its peers, and while it has a fair valuation with a return on equity (ROE) of 7.6%, the majority of its profits have been driven by non-operating income, which raises concerns about its long-term fundamental strength.
In the broader market context, Alankit's recent performance contrasts with the benchmark Sensex, which has shown a modest gain of 3.01% over the past month. The stock's liquidity appears adequate, with a significant increase in delivery volume, indicating rising investor participation. However, the overall sentiment remains cautious due to the stock's weak long-term fundamentals and its substantial underperformance compared to the broader market indices over various time frames. This combination of factors contributes to the stock's current downward movement, despite some short-term gains.