Why is MM Forgings falling/rising?

As of 12-Sep, MM Forgings Ltd. is currently priced at 327.00, reflecting an increase of 2.6 (0.8%). The stock has been gaining for the last two days, with a return of 0.85% during this period. It reached an intraday high of Rs 332.25, indicating positive momentum. However, despite this recent uptick, the stock has underperformed significantly over the longer term, with a year-to-date decline of 30.41% and a one-year drop of 41.71%. The company has faced challenges, including a 2.42% fall in net sales and negative results for the last five consecutive quarters, which have contributed to a decrease in profits by 18.4%. Additionally, institutional investor participation has declined, with a 1.89% reduction in their stake, suggesting a lack of confidence in the stock's fundamentals.
In the broader market context, MM Forgings has outperformed the Sensex in the short term, with a 1-week return of 2.89% compared to the benchmark's 1.48%. However, the stock's long-term performance remains concerning, as it has consistently underperformed against the benchmark over the past three years, with a significant negative return of 41.71% in the last year. The stock's attractive valuation relative to peers and healthy long-term growth in operating profit may provide some support, but the persistent negative results and declining investor participation indicate ongoing challenges that could hinder recovery.