Why is Kaycee Inds. falling/rising?

As of 29-Jul, Kaycee Industries Ltd is experiencing a price increase, currently at Rs 1,298.00, reflecting a rise of Rs 59.5 or 4.8%. Today's price movement indicates a trend reversal as the stock has gained after two consecutive days of decline. It opened with a significant gap up of 4.95% and reached an intraday high of Rs 1,300. Despite this positive movement today, the stock has underperformed in the short term, with a 1-week return of -1.67% and a 1-month return of -12.00%. The company has reported strong quarterly results, with net sales and profits at their highest levels, which may contribute positively to investor sentiment. However, the stock's valuation remains high compared to its peers, indicated by a Price to Book Value of 13.5, and it has underperformed the market over the past year, generating a return of -29.36%.
In the broader market context, while the Sensex has shown a slight decline of -1.03% over the past week, Kaycee Industries' performance has been notably worse, suggesting that the stock's recent rise may not be indicative of a broader recovery. The electric equipment sector has gained by 2.35%, which could be providing some support to Kaycee Industries' price movement today. However, the stock's liquidity appears to be declining, as evidenced by a 23.15% drop in delivery volume compared to the 5-day average. This decline in investor participation may pose challenges for sustained upward momentum, despite today's positive performance.