Why is Balaji Amines falling/rising?

As of 23-Jul, Balaji Amines Ltd is experiencing a slight increase in its stock price, currently at 1,739.15, reflecting a change of 4.15 (0.24%) upward. Today's price summary indicates that the stock has outperformed its sector by 0.55% and has shown a trend reversal after three consecutive days of decline. However, the stock's performance over the past week has been negative, with a decline of 2.70%, while it has seen a significant increase of 20.59% over the past month. Despite this recent uptick, the company has faced challenges, including negative results for the last four consecutive quarters and a poor long-term growth outlook, with net sales and operating profit growing at rates of only 8.35% and 4.26% respectively over the past five years. Additionally, the stock's valuation appears expensive compared to its peers, trading at a premium with a Price to Book Value of 3.1.
In the broader market context, the stock's recent performance contrasts with the benchmark, as it has underperformed the Sensex over the past year, generating a return of -23.74% compared to the benchmark's 2.86%. While the stock has shown some positive movement today, the overall trend indicates consistent underperformance against the benchmark over the last three years. The rising promoter confidence, with an increase in their stake by 0.92%, suggests a belief in the company's future, but this is tempered by falling investor participation and liquidity concerns, as evidenced by a significant drop in delivery volume. Thus, while there are some positive indicators, the stock's long-term challenges and recent underperformance against the market remain significant factors influencing its price movement.