Why is Astral falling/rising?

As of 24-Sep, Astral Ltd's stock price is currently at 1,439.85, reflecting an increase of 3.8 points or 0.26%. The stock has shown a trend reversal, gaining after three consecutive days of decline. It has outperformed its sector by 0.33% today, with a notable rise in delivery volume by 10.59% compared to the five-day average. Despite this positive movement, the stock has underperformed against the benchmark over the past year, with a return of -28.35% compared to the Sensex's -3.77%. Factors contributing to the stock's recent performance include high management efficiency indicated by a return on equity (ROE) of 18.04%, a low debt-to-equity ratio, and healthy long-term growth in net sales and operating profit. However, negative results in the latest quarter, including a significant drop in profit after tax and low returns on capital employed, have raised concerns about its valuation.
In the broader market context, Astral's short-term performance has been slightly better than the benchmark, as it has gained 1.26% over the past month compared to the Sensex's 0.50%. However, the stock's year-to-date performance remains concerning, with a decline of 12.89% against the Sensex's gain of 4.58%. The stock's consistent underperformance over the last three years, coupled with a high price-to-book value ratio, suggests that while there are some positive indicators, the overall sentiment remains cautious among investors. The high institutional holdings may provide some stability, but the recent negative financial results and valuation concerns could continue to weigh on the stock's performance.