Why is Poddar Pigments falling/rising?

As of 19-Aug, Poddar Pigments Ltd. is experiencing a price increase, currently at Rs 286.50, reflecting a rise of Rs 6.25 or 2.23%. Today's performance indicates that the stock opened with a gain of 2.25% and reached an intraday high of Rs 289.15, outperforming its sector by 1.69%. However, despite this positive movement, the stock has shown a decline of 5.83% over the past month and a significant drop of 29.83% over the last year. 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 faced challenges with a 34.5% decrease in profits over the past year, contributing to its overall negative performance.
In the broader market context, Poddar Pigments' short-term return of 2.34% over the past week outperformed the Sensex, which increased by 1.76%. However, the stock's year-to-date performance is concerning, with a decline of 20.92% compared to the Sensex's gain of 4.49%. The stock's liquidity appears adequate for trading, but a significant drop in delivery volume suggests falling investor participation, which may hinder sustained upward momentum. Overall, while there are short-term gains, the long-term outlook remains bleak due to poor growth metrics and negative financial results.