Why is MM Forgings falling/rising?

As of 18-Aug, MM Forgings Ltd. is experiencing a price increase, currently at Rs 309.00, reflecting a rise of Rs 7.1 or 2.35%. The stock has shown a positive performance today, outperforming its sector by 1.6% and gaining 2.5% over the last two days. However, despite this recent uptick, the stock remains close to its 52-week low, just 4.5% away from Rs 295.1. Over the past month, the stock has significantly underperformed, with a decline of 17.41%, while its year-to-date performance shows a steep drop of 34.24%. The company's operating profit has grown at an annual rate of 37.03%, but it has faced challenges with a 2.42% fall in net sales and negative results for the last five consecutive quarters, contributing to a substantial year-over-year return decline of 48.15%.
In the broader market context, the stock's short-term return of 0.19% over the past week is notably lower than the benchmark Sensex, which has increased by 0.83% during the same period. This consistent underperformance against the benchmark over the last three years, combined with a decrease in institutional investor participation, suggests a lack of confidence in the stock's future performance. While the stock is trading at a discount compared to its peers, the negative trends in sales and profits, along with falling investor participation, indicate that the recent price increase may not be sustainable in the long term.