Why is Paramount Comm. falling/rising?

As of 24-Jul, Paramount Communications Ltd's stock price is currently at Rs 59.73, reflecting an increase of Rs 1.43 or 2.45%. The stock has shown a trend reversal by gaining after two consecutive days of decline, and today it outperformed its sector by 3.73%. The stock reached an intraday high of Rs 60.28, indicating positive momentum, although it also experienced a low of Rs 56.4. Over the past week, the stock has decreased by 0.52%, but it has increased by 10.08% over the last month. Despite a year-to-date decline of 27.71%, the company has reported healthy long-term growth, with net sales growing at an annual rate of 21.05% and operating profit at 26.59%. The company has consistently declared positive results for the last 15 quarters, which has contributed to a favorable valuation compared to its peers.
In the broader market context, the Sensex has shown a slight decline of 0.09% over the past week, while Paramount Communications Ltd's performance has been more volatile, with a notable increase in trading volume, suggesting rising investor participation. The stock's year-to-date performance contrasts sharply with the Sensex's gain of 5.18%, highlighting the stock's underperformance over a longer period despite recent positive indicators. The stock's attractive valuation, with a price-to-book value of 2.5 and a return on equity of 12.1, suggests potential for recovery, although its recent performance still reflects significant challenges in the market.