Why is MM Forgings falling/rising?

As of 30-Jun, MM Forgings Ltd. is experiencing a price increase, currently at Rs 383.80, which reflects a rise of 8.6 or 2.29%. The stock has outperformed its sector today, gaining 2.62% over the last two days. It reached an intraday high of Rs 386.65, indicating positive momentum. However, despite this short-term gain, the stock has underperformed significantly over the past year, with a return of -38.13%. The company's return on capital employed (ROCE) stands at 11.8, suggesting an attractive valuation relative to its peers, but its profits have declined by 9.6% over the past year, contributing to a mixed outlook.
In the broader market context, the stock's short-term performance of +5.91% over the past week surpasses the Sensex's gain of +2.09%, indicating a stronger recovery in the immediate term. However, the stock's year-to-date performance shows a decline of -18.32%, contrasting sharply with the Sensex's increase of +7.00%. Additionally, institutional investors have reduced their stakes, which may reflect a lack of confidence in the company's long-term growth prospects, as evidenced by its negative results over the last four quarters and consistent underperformance against benchmarks over the past three years.