Why is HP Adhesives falling/rising?

As of 25-Sep, HP Adhesives Ltd's stock price is currently at Rs 49.73, reflecting an increase of Rs 2.56 or 5.43%. The stock has shown a trend reversal today, gaining after two consecutive days of decline, despite opening down by 4.26%. It reached an intraday high of Rs 51.5, indicating some volatility with a wide trading range of Rs 6.34. Over the past month, the stock has performed positively with a return of 6.49%, although it has significantly underperformed on a year-to-date basis with a decline of 39.23%. The company has a low debt-to-equity ratio and an attractive valuation, trading at a discount compared to its peers, but its profits have fallen by 23.7% over the past year, contributing to the overall negative sentiment surrounding the stock.
In the broader market context, HP Adhesives has outperformed the Sensex by 5.22% today, while the benchmark index has seen a decline of 2.23% over the past week. This indicates that despite the stock's overall struggles, it is currently gaining traction relative to the market. However, the stock's year-to-date performance remains concerning, especially when compared to the Sensex's positive return of 3.87%. The falling investor participation, as evidenced by a decrease in delivery volume, suggests that while there may be short-term gains, long-term investor confidence could be wavering.