Why is Kokuyo Camlin falling/rising?

As of 24-Jun, Kokuyo Camlin Ltd's stock price is rising, currently at Rs 134.50, reflecting an increase of 10.5 or 8.47%. The stock has outperformed its sector by 4.12% today, reaching an intraday high of Rs 135. Over the past week, it has shown a return of +3.38%, and in the last month, it has surged by +27.79%. However, despite this recent positive movement, the company has a weak long-term fundamental strength, with a -6.57% CAGR growth in operating profits over the last five years and a significant decline in profits by -86.7% over the past year. Additionally, the stock is trading at a high Price to Book Value of 4.5, indicating an expensive valuation relative to its peers, and domestic mutual funds hold no stake in the company, suggesting a lack of confidence in its future performance.
Broader market context shows that while Kokuyo Camlin has outperformed the Sensex in the short term, with a 1-month return of +27.79% compared to the Sensex's +0.41%, it has underperformed over the longer term, with a 1-year return of -11.69% against the Sensex's +6.10%. The broader Printing & Stationery sector has gained by 4.34%, contributing to the stock's recent rise. However, the falling investor participation, with a significant drop in delivery volume, raises concerns about the sustainability of this upward movement. Overall, while the stock is currently rising, its long-term fundamentals and investor sentiment remain weak.