Why is Ashiana Housing falling/rising?

As of 23-Jul, Ashiana Housing Ltd. is experiencing a price increase, currently at 330.35, reflecting a rise of 5.35 or 1.65%. The stock has shown positive momentum, gaining for the last two days with a total return of 1.88% during this period. It outperformed its sector by 2.97% today and reached an intraday high of Rs 333.1. However, despite this recent uptick, the stock has underperformed over the longer term, with a one-year return of -18.20%, significantly lagging behind the benchmark Sensex, which has gained 2.86% in the same timeframe. The company has faced challenges, including negative results for the last three consecutive quarters, a low return on capital employed (ROCE) of 3.18%, and a high price-to-book ratio compared to its peers, indicating a potentially expensive valuation.
In the broader market context, while Ashiana Housing has shown some short-term gains, its longer-term performance remains concerning, particularly as it has underperformed the market significantly over the past year. The Sensex has generated positive returns of 2.86% in the last year, contrasting sharply with Ashiana's decline. Additionally, the stock's liquidity is adequate for trading, but a notable drop in delivery volume suggests a decrease in investor participation, which could impact future price movements. Overall, while the recent price increase may reflect short-term trading activity, the underlying financial health of the company raises questions about its sustainability in the longer term.