Why is Pix Transmission falling/rising?

As of 22-Sep, Pix Transmission Ltd's stock is currently priced at 1,439.45, reflecting an increase of 18.9, or 1.33%. The stock has shown a trend reversal, gaining after two consecutive days of decline, and it reached an intraday high of Rs 1450, marking a 2.07% increase. In the past week, the stock has slightly underperformed the Sensex, with a return of -0.07% compared to the benchmark's +0.46%. However, over the past month, it has outperformed the Sensex with a return of +4.06% against +1.05%. Despite a low Debt to Equity ratio of 0.09, indicating financial stability, the company faces challenges with poor long-term growth, as evidenced by a 13.90% annual growth rate in net sales over the last five years. The stock's valuation appears expensive with a Price to Book Value of 3.3, and domestic mutual funds hold no stake, suggesting a lack of confidence in the stock's price or business prospects.
Broader market context indicates that while Pix Transmission has shown some positive movement recently, it has significantly underperformed the market year-to-date, with a return of -42.26% compared to the Sensex's +5.15%. The stock's performance over the past year also reflects a decline of -7.13%, while the benchmark has only decreased by -2.82%. This disparity highlights the stock's struggles in a generally improving market environment. The rising investor participation, as indicated by an increase in delivery volume, may suggest a potential shift in sentiment, but the overall negative factors, including low sales growth and minimal institutional interest, continue to weigh heavily on its performance.