Why is Carborundum Uni. falling/rising?

As of 13-Aug, Carborundum Universal Ltd is experiencing a price increase, currently at Rs 874.20, reflecting a rise of 26.2 points or 3.09%. Today's performance indicates that the stock has outperformed its sector by 3.6%, reaching an intraday high of Rs 874.20. However, the stock has shown a decline of 9.90% over the past month and a significant drop of 43.60% over the last year. The company has reported negative financial results in recent quarters, with a 15.43% fall in net profit and a low return on capital employed (ROCE) of 15.65%. Additionally, promoter confidence appears to be waning, as they have reduced their stake in the company by 0.59%, which may indicate concerns about future performance.
In the broader market context, while Carborundum Universal Ltd has seen a short-term uptick, its overall performance remains weak compared to the benchmark Sensex, which has gained 3.07% year-to-date. The stock's recent rise does not offset its long-term underperformance, as it has lagged behind the BSE500 index over various time frames, including the last three years. The stock's liquidity is adequate for trading, but the significant drop in delivery volume suggests a lack of investor interest, which could hinder sustained price increases. Overall, while there is a short-term price increase, the long-term outlook remains concerning due to poor financial performance and reduced promoter confidence.