Why is Kaycee Inds. falling/rising?

As of 30-Jul, Kaycee Industries Ltd is experiencing a slight increase in its stock price, currently at Rs 1,302.50, reflecting a change of 4.5 (0.35%) upward. The stock has shown positive momentum recently, gaining 5.17% over the last two days and outperforming its sector by 0.51% today. However, despite this recent uptick, the stock has underperformed over the longer term, with a year-to-date decline of 19.98% and a one-year return of -30.50%. The company has reported strong quarterly results, including record net sales and profits, which may contribute to the recent positive price movement. Nonetheless, the stock is considered expensive with a high Price to Book Value ratio, and its return on equity is relatively high, indicating potential valuation concerns.
In the broader market context, the stock's recent performance contrasts with the benchmark Sensex, which has seen a decline of 1.50% over the past week and a modest gain of 4.28% year-to-date. While Kaycee Industries has outperformed the sector in the short term, its longer-term performance remains significantly weaker than the market average, highlighting a disparity in investor sentiment. The stock's liquidity appears adequate for trading, but falling delivery volumes suggest a decrease in investor participation, which could impact future price movements. Overall, while the recent price increase may be driven by positive quarterly results, the stock's long-term underperformance and high valuation metrics present challenges that could influence its trajectory moving forward.