Why is Panasonic Energy falling/rising?

As of 28-Aug, Panasonic Energy India Company Ltd is experiencing a price increase, currently at Rs 345.10, reflecting a rise of Rs 3.7 or 1.08%. The stock has shown positive momentum recently, gaining for the last two consecutive days with a total return of 1.99%. It opened today with a gap up of 2.52% and reached an intraday high of Rs 350. Despite a challenging year with a return of -33.08%, the stock has outperformed its sector by 1.19% today. The company maintains a low debt-to-equity ratio and an attractive valuation with a price-to-book value of 2.4, trading at a discount compared to its peers. However, it has faced significant profit declines, with a -35.8% drop in profits over the past year, which may weigh on investor sentiment.
In the broader market context, the stock's short-term performance contrasts with the benchmark, as it has gained 0.64% over the past week while the Sensex has declined by 2.34%. This indicates a relative strength in the stock compared to the overall market. However, the stock's long-term performance remains concerning, with a -24.70% return year-to-date and underperformance against the BSE500 over the last three years. The negative results reported for June, including the lowest operating profit to net sales ratio and cash equivalents, highlight ongoing challenges that could impact future performance despite the recent uptick in price.