Why is PG Electroplast falling/rising?

As of 10-Sep, PG Electroplast Ltd's stock price is currently at 572.55, reflecting an increase of 6.45 (1.14%). The stock has shown positive momentum recently, gaining 3.81% over the last two days and outperforming its sector by 1.51%. However, despite this short-term gain, the stock has a negative return of -2.80% over the past month and a significant decline of -41.78% year-to-date. The company's financial performance indicates healthy long-term growth, with net sales increasing at an annual rate of 50.00% and operating profit rising by 74.19%. Nonetheless, recent quarterly results have shown a decline in profit before tax and profit after tax, alongside a decrease in promoter confidence, as they have reduced their stake by 5.65%.
In the broader market context, PG Electroplast's short-term performance of +3.17% over the past week outpaces the Sensex, which has only increased by 1.06%. This suggests that while the stock is experiencing a brief rally, it is still underperforming significantly on a year-to-date basis compared to the benchmark's +4.21%. The stock's current valuation appears expensive with a Price to Book Value of 5.7, despite trading at a discount to its peers. The combination of declining investor participation and reduced promoter confidence may weigh on the stock's future performance, even as it enjoys a temporary rise in price.