Why is MM Forgings falling/rising?

As of 03-Jul, MM Forgings Ltd. is currently priced at 378.15, reflecting an increase of 1.3 or 0.34%. The stock has shown a trend reversal by gaining after two consecutive days of decline, outperforming its sector by 0.51%. Despite this positive movement, the stock has underperformed significantly over the past year, with a return of -42.07%, while its profits have decreased by 9.6%. The stock is trading at a discount compared to its peers, and its attractive valuation is indicated by a return on capital employed (ROCE) of 11.8%. However, the company has faced challenges, including negative results for the last four consecutive quarters and a decline in institutional investor participation, which may weigh on investor sentiment.
In the broader market context, MM Forgings has outperformed the Sensex over the past week with a return of +1.11% compared to the benchmark's -0.62%. However, over the longer term, the stock has significantly lagged behind the market, with a year-to-date return of -19.53% against the Sensex's +6.53%. This stark contrast highlights the stock's struggles in the face of broader market gains, suggesting that while there may be short-term upward movement, the long-term outlook remains concerning due to poor growth metrics and declining investor confidence.