Why is Indus Towers falling/rising?

As of 18-Aug, Indus Towers Ltd's stock price is currently at Rs 337.95, reflecting an increase of Rs 4.95 or 1.49%. The stock has shown a trend reversal, gaining after two consecutive days of decline, and reached an intraday high of Rs 341.1. Despite this positive movement today, the stock has underperformed over the past month with a decline of 16.16%, while the benchmark Sensex fell only 0.59%. The stock's performance has been mixed, as it has a high management efficiency indicated by a return on capital employed (ROCE) of 18.42% and healthy long-term growth in net sales and operating profit. However, it has also faced challenges, including a significant drop in profit after tax in the latest quarter and a lower operating profit to interest ratio, which may contribute to investor caution.
Broader market context shows that while Indus Towers has gained today, its one-year return of -17.94% starkly contrasts with the Sensex's positive return of 1.04%, indicating a significant underperformance relative to the broader market. The stock's recent rise comes amid falling investor participation, as evidenced by a decrease in delivery volume, which may suggest a lack of confidence among retail investors despite high institutional holdings. The stock is trading at a discount compared to its peers, which could attract some investors looking for value, but the overall sentiment remains cautious due to its recent financial performance and market underperformance.