Why is IRB Infra.Devl. falling/rising?

As of 14-Aug, IRB Infrastructure Developers Ltd's stock price is currently at 45.41, reflecting an increase of 0.62 or 1.38%. The stock has been on a positive trajectory, gaining for the last four consecutive days and achieving a total return of 4.29% during this period. It has outperformed its sector by 1.59% today, with a notable increase in delivery volume, which rose by 38.44% compared to the five-day average. Despite this recent uptick, the stock has underperformed over the longer term, with a year-to-date decline of 20.64% and a one-year drop of 27.39%. The company has reported positive results over the last three quarters, with a significant growth in profit after tax and a high debtors turnover ratio, indicating some operational strength. However, the long-term fundamentals remain weak, characterized by a low return on capital employed and poor sales growth, which could temper investor enthusiasm.
In the broader market context, the stock has shown a short-term return of 1.34% over the past week, contrasting with a slight decline of 0.03% in the Sensex during the same period. While the stock's recent performance has been positive, it has still lagged significantly behind the benchmark over the past year, where the Sensex has gained 1.89% while IRB Infrastructure has lost 27.39%. This disparity highlights the challenges the company faces in regaining investor confidence despite its recent gains, particularly given the high percentage of pledged promoter shares, which can exert additional downward pressure in volatile market conditions.