Why is Hikal falling/rising?

As of 22-Aug, Hikal Ltd's stock price is currently at 255.05, reflecting an increase of 1.05 or 0.41%. The stock has recently shown some volatility, having hit a new 52-week low of Rs. 245.3 earlier in the day, and it opened with a loss of 2.7%. Despite this, the stock has gained after two consecutive days of decline, reaching an intraday high of Rs. 262.5. Over the past week, Hikal has outperformed the Sensex, with a return of +1.96% compared to the benchmark's +0.88%. However, the stock has significantly underperformed over longer periods, with a year-to-date return of -34.56% against the Sensex's +4.05%. The company has a low return on capital employed (ROCE) of 9.7 and has seen a decline in profits by 6.5% over the past year, which contributes to its negative sentiment.
Broader market context indicates that while Hikal's short-term performance has been slightly better than the benchmark, its long-term outlook remains concerning. The stock has consistently underperformed against the BSE500 over the last three years, with a significant drop in pre-tax and net profits reported in the latest quarter. The falling investor participation, as evidenced by a decrease in delivery volume, further suggests a lack of confidence among investors. Additionally, the stock is trading at a discount compared to its peers, but this has not translated into positive price movement due to poor long-term growth prospects, as indicated by a -2.51% annual decline in operating profit over the last five years.