Why is Carborundum Uni. falling/rising?

As of 02-Jul, Carborundum Universal Ltd is experiencing a slight increase in its stock price, currently at 1,001.05, reflecting a change of 3.9 (0.39%) upward. The stock has shown a positive trend over the last four days, gaining 3.95% in that period. However, it has also faced some volatility, touching an intraday low of Rs 976, which represents a decline of 2.12%. In terms of performance relative to benchmarks, the stock has returned +2.49% over the past week, which is significantly better than the Sensex's +0.79% return. Despite these short-term gains, the company has a concerning long-term outlook, with a net sales growth rate of only 13.56% and a significant drop in profit before tax of -22.83%, leading to a very negative quarterly result.
In the broader market context, while Carborundum Universal's short-term performance has outpaced the Sensex, the stock has underperformed in the long term, with a year-to-date decline of -21.83% compared to the Sensex's +6.75%. The company's high institutional holdings at 40.98% may provide some stability, but the overall sentiment remains cautious due to its poor long-term growth metrics and declining profitability. The stock's valuation appears expensive relative to its return on equity of 10.9 and a price-to-book ratio of 5.4, which may deter potential investors despite its recent gains.