Why is Maithan Alloys falling/rising?

As of 29-Aug, Maithan Alloys Ltd. is currently priced at 1,045.00, reflecting an increase of 5.6 (0.54%). The stock has shown a trend reversal by gaining after four consecutive days of decline, although it underperformed its sector by 0.49% today. Despite this recent uptick, the stock has experienced a decline of 4.04% over the past week and 5.95% over the past month. The stock's performance has been poor over the last year, with a return of -9.13%, and its profits have decreased by 4.8%. The company has a low debt-to-equity ratio and an attractive valuation with a price-to-book value of 0.8, but it is trading at a premium compared to its peers.
In the broader market context, the stock's recent performance contrasts with the benchmark, as it has consistently underperformed against the BSE500 over the last three years. While the Sensex has gained 2.14% year-to-date, Maithan Alloys has declined by 5.86%. The stock's liquidity appears sufficient for trading, with a notable increase in delivery volume, suggesting rising investor participation. However, the lack of domestic mutual fund investment may indicate a lack of confidence in the stock's long-term growth potential, further contributing to its underperformance relative to the market.