Why is Paul Merchants falling/rising?

As of 18-Sep, Paul Merchants Ltd's stock price is currently at 740.00, reflecting an increase of 4.0 (0.54%). The stock opened with a gain of 2.54% today and reached an intraday high of Rs 754.7. However, despite this short-term uptick, the stock has shown a negative performance over the past week, down by 0.37%, and has significantly underperformed the benchmark Sensex, which gained 1.80% in the same period. The company has been facing challenges, including operating losses and a decline in net sales, which have contributed to a weak long-term fundamental strength. The stock's performance has been further hindered by a 40.83% drop in delivery volume compared to the 5-day average, indicating falling investor participation.
In the broader market context, while Paul Merchants has seen a slight rise today, its overall performance has been poor, with a year-to-date decline of 21.69% compared to a 6.24% gain in the Sensex. The stock's long-term returns are concerning, with a 28.72% drop over the past year and negative results for the last five consecutive quarters. This underperformance is compounded by a very expensive valuation relative to its peers, as indicated by a low return on equity of 1.2 and a price-to-book value of 0.4. Overall, the stock's recent movement reflects a complex interplay of short-term gains overshadowed by long-term weaknesses and broader market trends.