Why is Jagan Lamps falling/rising?

As of 08-Jul, Jagan Lamps Ltd is currently priced at 80.99, reflecting an increase of 1.01 or 1.26%. Today's price summary indicates that the stock opened lower, down 2.6%, but managed to reach an intraday high of Rs 81.64, showing a 2.08% increase at its peak. However, it also touched a low of Rs 76.99, indicating volatility throughout the trading day. The stock has underperformed in the short term, with a 1-week return of -2.43% compared to a slight increase of 0.02% in the Sensex. Over the past month, it has performed better, with a return of 9.46% against the benchmark's 1.85%. Despite an attractive valuation with a return on capital employed (ROCE) of 9.7 and trading at a discount to peers, the stock has seen a significant decline of 17.84% over the past year, alongside a 3.1% drop in profits.
Broader Market Context: The stock's recent performance contrasts with the broader market, as it has underperformed the BSE500 over various time frames, including the last year and three years. While the stock has shown some resilience today, outperforming its sector by 1.87%, the overall trend remains concerning due to weak long-term fundamentals and declining investor participation, with delivery volume dropping by 83.74% compared to the five-day average. This suggests a lack of confidence among investors, which may be contributing to the stock's volatility and overall negative performance in the longer term.