Why is Poddar Pigments falling/rising?

As of 28-Aug, Poddar Pigments Ltd. is currently priced at Rs. 266.40, reflecting an increase of Rs. 5.45 or 2.09%. The stock has experienced a trend reversal after two consecutive days of decline, having touched a new 52-week low of Rs. 255 earlier in the day. Despite today's gain, the stock has shown poor performance over the past week and month, with declines of 5.87% and 9.86%, respectively. Additionally, the stock has generated a significant negative return of -38.28% over the past year, while its profits have decreased by 34.5%. The company maintains a low debt-to-equity ratio and an attractive valuation with a price-to-book value of 0.8, yet its operating profit has stagnated, contributing to a lack of long-term growth.
Broader market context indicates that while Poddar Pigments has gained today, it has underperformed compared to the benchmark Sensex, which has seen a decline of 2.34% over the past week. The Dyes & Pigments sector has shown a positive movement of 2.21%, suggesting some sector-specific strength. However, the stock's overall performance remains below par, with it trading lower than all key moving averages and having underperformed the BSE500 over various time frames. This context highlights the challenges Poddar Pigments faces in regaining investor confidence despite today's price increase.