Why is Chennai Ferrous falling/rising?

As of 04-Jul, Chennai Ferrous Industries Ltd is experiencing a decline in its stock price, currently at 119.70, reflecting a decrease of 0.85 or 0.71%. The stock's performance today is in line with its sector, and it has shown a notable increase in delivery volume, rising by 104.87% against the 5-day average. Over the past week, the stock has gained 0.67%, while it has outperformed the benchmark Sensex, which has decreased by 0.74%. Despite a positive trend in net sales growth of 165.73% over the last four quarters and an attractive valuation with a Price to Book Value of 0.9, the stock has underperformed in the long term, with a 57.27% decline over the past three years and a return of -0.83% in the last year.
In the broader market context, while Chennai Ferrous has shown some short-term resilience, its long-term performance has been weak compared to the benchmark, as it has consistently underperformed against the BSE500 over the last three years. The stock's year-to-date return is -8.97%, contrasting with the Sensex's gain of 6.77%. This underperformance, combined with a decline in profits by 16.9%, raises concerns about the company's fundamental strength, leading to a cautious outlook among investors despite recent positive quarterly results.