Why is Panasonic Carbon falling/rising?

As of 13-Aug, Panasonic Carbon India Company Ltd. is experiencing a rise in its stock price, currently at 505.05, with an increase of 20.0 or 4.12%. The stock has been gaining for the last three days, showing a total return of 6.1% during this period. It opened with a gain of 3.07% today and reached an intraday high of Rs 524, reflecting strong performance. However, despite this recent uptick, the stock has underperformed over the longer term, with a decline of 8.65% over the past year and a modest annual growth in net sales and operating profit of 3.71% and 2.72%, respectively, over the last five years. The company has a low debt-to-equity ratio, but its valuation appears expensive with a Price to Book Value of 1.4, which may deter some investors.
In the broader market context, the stock has outperformed its sector by 4.6% today, while the benchmark Sensex has shown a slight decline of 0.01% over the past week. Although the stock has gained in the short term, it has consistently underperformed against the benchmark over the last three years, indicating a challenging environment for the company. The recent increase in stock price may be attributed to short-term trading dynamics rather than a fundamental improvement in the company's long-term growth prospects, as evidenced by the flat results reported in June and a significant portion of profit coming from non-operating income.