Why is Electrost.Cast. falling/rising?

As of 15-Sep, Electrosteel Castings Ltd is experiencing a price increase, currently at Rs 101.23, reflecting a rise of Rs 3.13 or 3.19%. Today's performance indicates that the stock outperformed its sector by 2.42%, reaching an intraday high of Rs 103.72, which is a 5.73% increase. Despite this positive movement, the stock has shown a year-to-date decline of 26.99% and a significant drop of 56.05% over the past year. The company has reported healthy long-term growth with net sales increasing at an annual rate of 23.52% and operating profit at 27.32%. However, it has also faced challenges, including a 35.7% decline in profits over the past year and negative results for the last three consecutive quarters, which may contribute to investor caution.
Broader Market Context: In the short term, Electrosteel Castings Ltd has outperformed the benchmark Sensex, which has only increased by 1.24% over the past week, while the stock rose by 4.00%. This indicates that the stock's recent price movement is relatively strong compared to the broader market. However, it is essential to note that despite the recent uptick, the stock has underperformed the market significantly over the past year, with a return of -56.05% compared to the Sensex's -1.33%. This disparity highlights the ongoing challenges the company faces, despite its attractive valuation and high institutional holdings, which may not be enough to offset the negative sentiment stemming from its recent financial performance.