Why is Mangalam Industr falling/rising?

As of 16-Jul, Mangalam Industrial Finance Ltd's stock price is currently at 1.61, reflecting an increase of 0.02 or 1.26%. Today's performance indicates a trend reversal, as the stock has gained after four consecutive days of decline. Despite this uptick, the stock has underperformed in the short term, with a one-week return of -3.59%. The stock's performance has been mixed, with a one-month return of +1.26%, but it has significantly lagged behind the benchmark Sensex over the past year, showing a decline of -61.76%. Additionally, the stock's delivery volume has decreased by 31.97% compared to the five-day average, indicating falling investor participation. The company's weak long-term fundamentals, characterized by a low return on equity of 1.38% and a high price-to-book value ratio of 5.9, suggest that the stock may be overvalued despite a recent increase in profits.
In the broader market context, the stock's recent performance contrasts with the benchmark Sensex, which has shown a modest decline of only -1.08% over the past week. This underperformance is further highlighted by the company's long-term struggles, as it has generated negative returns over the past year and three years, while the Sensex has posted positive returns in the same periods. The reduction in promoter confidence, with a 5.2% decrease in their stake, adds to the negative sentiment surrounding the stock. Overall, while there has been a slight uptick in the stock price, the underlying fundamentals and broader market performance indicate significant challenges ahead for Mangalam Industrial Finance Ltd.