Why is Kennametal India falling/rising?

As of 22-Sep, Kennametal India Ltd's stock price is currently at 2,149.00, reflecting an increase of 16.75 or 0.79%. The stock has shown a positive trend recently, gaining for the last two days with a total return of 2.36%. It has outperformed its sector by 1.29% today. However, despite this short-term gain, the stock has underperformed over the longer term, with a year-to-date decline of 27.56% and a one-year return of -33.96%. The company has a low debt-to-equity ratio and has experienced healthy long-term growth in operating profit, but it also faces challenges such as an expensive valuation and consistent underperformance against benchmarks.
In the broader market context, Kennametal India's recent performance contrasts with the Sensex, which has gained 0.46% over the past week. While the stock has shown some resilience in the short term, its longer-term performance remains concerning, particularly given its significant underperformance against the BSE500 over the last three years. The stock's recent gains may be attributed to rising investor participation, as indicated by a 173.65% increase in delivery volume compared to the five-day average, but the overall trend suggests that investors remain cautious due to the company's flat results and high PEG ratio.