Why is JNK falling/rising?

As of 29-Jul, JNK India Ltd's stock price is currently at Rs 323.80, reflecting an increase of Rs 7.8 or 2.47%. Today's price movement indicates a trend reversal as the stock has gained after three consecutive days of decline. Despite this uptick, the stock has underperformed significantly over the past week and month, with returns of -3.02% and -7.42%, respectively. The stock is trading below its moving averages across various time frames, and there has been a notable decline in investor participation, with delivery volume dropping by 68.61% compared to the five-day average. While the company boasts high management efficiency and a healthy growth rate in net sales, it also faces challenges such as a significant drop in profits and a high price-to-book value ratio, which may contribute to investor caution.
In the broader market context, JNK India Ltd's performance has been notably weaker than the benchmark, with a year-to-date return of -50.54% compared to the Sensex's gain of 4.09%. This stark contrast highlights the stock's struggles relative to the overall market. Although the stock's recent price increase may suggest a temporary rebound, the long-term performance remains concerning, as it has consistently underperformed against the BSE500 over various time frames. The combination of poor recent returns and high valuation metrics may lead investors to remain skeptical about the stock's future prospects, despite its recent positive movement.