Why is Phoenix Mills falling/rising?

As of 18-Aug, Phoenix Mills Ltd. is experiencing a price increase, currently at 1,491.90, reflecting a rise of 62.95 or 4.41%. The stock has shown a positive trend today, outperforming its sector by 2.44% and reversing a three-day decline. It reached an intraday high of Rs 1497.1, indicating strong intraday performance. Despite this, the stock's year-to-date performance remains negative at -8.75%, and it has underperformed the market over the past year with a return of -11.43%. The stock's long-term growth potential is supported by healthy net sales growth of 21.47% and operating profit growth of 28.07%. However, it faces challenges with a flat performance in its latest quarterly results and a high valuation relative to its return on capital employed.
In the broader market context, Phoenix Mills has outperformed the Sensex in the short term, with a weekly return of +3.62% compared to the Sensex's +0.83%. This indicates a stronger performance relative to the market in the recent week. However, the stock's long-term performance has been lackluster, with a significant decline over the past year, contrasting with the Sensex's modest gain of +1.04%. The high institutional holdings at 49% suggest that informed investors are backing the stock, yet the overall negative sentiment due to its recent performance and valuation concerns may be limiting its recovery potential.