Why is Poddar Pigments falling/rising?

As of 13-Aug, Poddar Pigments Ltd. is experiencing a price increase, with the current price at Rs 284.20, reflecting a change of 4.25 (1.52%) upward. The stock opened with a gain of 2.55% today and reached an intraday high of Rs 294.05, outperforming its sector by 1.24%. Despite this positive movement, the stock has shown a negative trend over the past week and month, with returns of -3.46% and -5.53%, respectively. Additionally, the stock is currently trading lower than its moving averages across various time frames, indicating a potential struggle in maintaining upward momentum. The company has a low Debt to Equity ratio and an attractive valuation with a Price to Book Value of 0.8, but it has also faced significant profit declines, with a 34.5% drop in profits over the past year.
In the broader market context, while Poddar Pigments has seen a slight increase today, its performance over the longer term has been disappointing, with a year-to-date return of -21.56% compared to a positive 3.07% for the Sensex. This underperformance is further highlighted by the stock's negative returns over the past year and three years, where it has lagged behind the BSE500 index. The recent rise in investor participation, with a notable increase in delivery volume, may suggest a short-term interest in the stock, but the overall trend indicates a lack of confidence in its long-term growth potential, as evidenced by poor operating profit growth and negative results in recent financial reports.