Why is Grindwell Norton falling/rising?

As of 20-Aug, Grindwell Norton Ltd. has seen its stock price rise by 30.0 points, or 2.02%, bringing the current price to 1,515.00. The stock has been gaining for the last three days, with a total return of 3.13% during this period. However, it underperformed its sector by 5.38% today. Despite this recent uptick, the stock has shown a significant decline over the past month, down 14.89%, and has generated a return of -38.66% over the last year. The company boasts a high management efficiency with a return on equity (ROE) of 18.29% and a low debt-to-equity ratio, which may provide some investor confidence. Nonetheless, the stock's valuation appears expensive with a price-to-book value of 7.4, and it has consistently underperformed against benchmarks over the past three years.
In the broader market context, Grindwell Norton’s short-term performance of +2.88% over the last week contrasts with the Sensex's gain of +1.64%, indicating a stronger relative performance in the short term. However, the stock's long-term trajectory remains concerning, as it has underperformed the benchmark significantly, with a year-to-date decline of -21.23% compared to the Sensex's +4.76%. The recent rise in stock price may be attributed to temporary market movements rather than a fundamental turnaround, especially given the company's flat results reported in June and the declining investor participation reflected in the falling delivery volume.