Why is Max India Ltd falling/rising?

As of 12-Sep, Max India Ltd is currently priced at 217.00, reflecting an increase of 1.9 (0.88%). Despite this uptick, the stock has underperformed its sector significantly, with a performance today that is down by 100.19%. The stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Additionally, there has been a notable decline in investor participation, with delivery volume falling by 66.02% compared to the 5-day average. Over the past week, the stock has decreased by 1.90%, while it has shown a modest gain of 5.65% over the past month. However, year-to-date, it has underperformed with a decline of 15.61%.
In the broader market context, the Sensex has increased by 1.48% over the past week and 2.08% over the past month, indicating that the overall market is performing better than Max India Ltd. Year-to-date, while the Sensex has gained 4.82%, Max India Ltd has struggled significantly. The stark contrast between the stock's performance and that of the benchmark suggests that investor sentiment may be leaning towards caution regarding Max India Ltd, despite its recent price increase. The absence of any positive factors in the dashboard further underscores the challenges the company faces in regaining investor confidence.