Why is MM Forgings falling/rising?

As of 03-Sep, MM Forgings Ltd. is experiencing a price increase, currently at 317.00, reflecting a rise of 4.55 (1.46%). The stock has shown positive momentum recently, gaining for the last two days with a total return of 2.42%. It outperformed its sector by 1.14% today and reached an intraday high of Rs 319.8. Despite this short-term gain, the stock has underperformed significantly over longer periods, with a year-to-date decline of 32.54% and a staggering 46.57% drop over the past year. While the company has demonstrated healthy long-term growth with an annual operating profit increase of 37.03%, it has also faced challenges, including a 2.42% decline in net sales and negative results for the last five consecutive quarters, which have contributed to its overall negative performance.
In the broader market context, the stock's recent performance contrasts with the benchmark, as it has underperformed the Sensex over the past week and month, with returns of -1.45% and -5.71%, respectively, compared to the Sensex's -0.27% and -0.04%. Institutional investor participation has also declined, with a 1.89% reduction in their stakes, indicating a lack of confidence among more sophisticated investors. This consistent underperformance against the benchmark over the last three years, coupled with falling profits and negative quarterly results, suggests that while there may be short-term gains, the long-term outlook remains challenging for MM Forgings Ltd.