Why is Jagan Lamps falling/rising?

As of 22-Jul, Jagan Lamps Ltd is experiencing a decline in its stock price, currently at Rs 92.49, which reflects a decrease of Rs 2.64 or 2.78%. The stock has underperformed its sector by 2.07% today and has seen a trend reversal after three consecutive days of gains. It touched an intraday low of Rs 92.15, indicating a drop of 3.13%. Despite this decline, the stock has shown strong performance over the past week and month, with returns of 16.49% and 37.98%, respectively. However, over the past year, it has generated a negative return of 4.55%, coinciding with a 3.1% decline in profits. The stock is trading at a discount compared to its peers, which may attract some investors, but its weak long-term fundamentals, indicated by a low Return on Capital Employed (ROCE) of 9.21%, raise concerns about its growth potential.
In the broader market context, the Sensex has shown a slight decline of 0.47% over the past week and 0.27% over the past month, contrasting with Jagan Lamps' strong short-term performance. While the stock has outperformed the benchmark in the short term, its year-to-date performance is lagging behind the Sensex, which has gained 5.18%. The liquidity of the stock remains adequate, with a significant increase in delivery volume, suggesting rising investor participation. However, the flat results reported for the last quarter, with net sales falling by 5.1%, contribute to the overall negative sentiment surrounding the stock, leading to its current price decline.