Why is Pilani Invest. falling/rising?

As of 20-Oct, Pilani Investment & Industries Corporation Ltd is experiencing a price increase, currently at Rs 5,786.00, reflecting a rise of Rs 146.05 or 2.59%. The stock has shown strong performance recently, gaining 10.21% over the last four days and outperforming its sector by 1.86% today. It has also reached an intraday high of Rs 5,872.55, indicating positive momentum. Despite a year-over-year return of -7.64% and a significant drop in profits by -64.3%, the stock is trading at a premium compared to its peers, with a fair valuation based on its Price to Book Value. However, the company has declared negative results for the last three consecutive quarters, which raises concerns about its long-term fundamental strength.
Broader market context shows that Pilani Investment has outperformed the benchmark Sensex in the short term, with a 1-week return of +9.72% compared to the Sensex's +2.47%. This indicates that investor sentiment may be more favorable towards Pilani Investment despite its underlying financial challenges, as evidenced by rising investor participation and liquidity. The stock's performance contrasts with its weak fundamentals, including a low Return on Equity and a high debt-equity ratio, which may deter long-term investors, particularly domestic mutual funds that hold no stake in the company.