Why is Fineotex Chem falling/rising?

As of 18-Aug, Fineotex Chemical Ltd's stock price is currently at 243.30, reflecting an increase of 5.4, or 2.27%. The stock has shown a positive trend recently, gaining 6.73% over the last three days and outperforming its sector by 1.25%. However, despite this short-term gain, the stock has experienced a significant decline of 12.64% over the past month and a staggering 26.55% year-to-date. The company has reported negative results for the last three consecutive quarters, with a notable drop in profit before tax and profit after tax compared to previous averages. Additionally, while the company boasts a high return on equity of 21.66% and a low debt-to-equity ratio, its valuation remains expensive with a price-to-book value of 3.8, which may deter some investors.
In the broader market context, Fineotex Chemical Ltd's recent performance contrasts with the Sensex, which has only increased by 0.83% over the past week. This indicates that while the stock has shown some short-term resilience, it has consistently underperformed against the benchmark over the last three years, generating a return of -31.76% in the past year. Furthermore, there has been a decline in institutional investor participation, which may reflect a lack of confidence in the company's fundamentals. Overall, the stock's recent rise appears to be a temporary rebound amidst a backdrop of ongoing challenges and underperformance relative to the market.