Why is Ashiana Housing falling/rising?

As of 19-Aug, Ashiana Housing Ltd. is experiencing a price increase, with its current price at Rs 307.30, reflecting a rise of 4.4 (1.45%). The stock opened with a gain of 3.96% today and reached an intraday high of Rs 314.9. Despite this positive movement, the stock has underperformed in the longer term, with a 1-month return of -6.75% and a year-to-date return of -11.57%. However, recent positive financial results, including a significant growth in profit before tax and profit after tax, alongside a low debt-to-equity ratio, may have contributed to the recent uptick in investor interest, as evidenced by a 266.77% increase in delivery volume compared to the 5-day average.
Broader market context indicates that while Ashiana Housing has seen a short-term rise, it has significantly underperformed the benchmark Sensex, which has gained 1.76% over the past week. The stock's longer-term performance is concerning, with a 1-year return of -13.13%, contrasting sharply with the Sensex's slight decline of -0.14% over the same period. This underperformance, coupled with a high price-to-book value ratio and a low return on equity, suggests that while there may be short-term gains, the stock's valuation remains expensive compared to its peers, which could limit its appeal to investors in the broader market.