Why is Mangalam Industr falling/rising?

As of 01-Jul, Mangalam Industrial Finance Ltd's stock price is currently at 1.61, reflecting an increase of 0.03 or 1.9%. The stock has shown a strong performance today, outperforming its sector by 2.04%. Additionally, it has experienced a significant rise in investor participation, with delivery volume increasing by 1123.43% compared to the 5-day average. However, despite today's positive movement, the stock has had a challenging year, with a return of -64.14% over the past year and a negative return of -4.17% over the last month. The company's long-term fundamentals are weak, indicated by a low average Return on Equity (ROE) of 1.38% and a high Price to Book Value ratio of 5.9, which suggests that the stock is overvalued compared to its peers.
In the broader market context, the stock's short-term return of +7.33% over the past week is significantly higher than the Sensex's return of +2.00%, indicating a relative strength in the short term. However, the stock's long-term performance remains concerning, as it has underperformed the BSE500 index over the last three years, one year, and three months. The reduction in promoter confidence, with a 5.2% decrease in their stake, further adds to the negative sentiment surrounding the stock. Overall, while there is a short-term uptick in price and trading activity, the long-term outlook remains bleak due to fundamental weaknesses and declining promoter confidence.