Why is Ratnamani Metals falling/rising?

As of 24-Sep, Ratnamani Metals & Tubes Ltd is experiencing a slight increase in its stock price, currently at 2,449.15, reflecting a change of 2.65 (0.11%) upwards. The stock has been gaining for the last three days, with a total return of 1.44% during this period. However, despite this recent uptick, the stock has shown a significant decline of 32.78% over the past year and a year-to-date decrease of 23.08%. The company's performance metrics indicate high management efficiency with a return on equity (ROE) of 16.53% and a low debt-to-equity ratio of 0.01, suggesting a stable financial position. Nonetheless, the stock's recent performance is tempered by falling net sales and profit before tax, which have decreased by 11.2% and 14.2% respectively compared to previous quarters, indicating underlying challenges.
In the broader market context, Ratnamani Metals' short-term return of 1.61% over the past week contrasts with the Sensex, which has declined by 1.18% during the same period. This suggests that the stock is performing relatively well against the benchmark in the short term. However, the overall long-term performance remains concerning, as the stock has underperformed the BSE500 index over the last three years, one year, and three months. The high institutional holdings at 30.48% may provide some support, but the stock's expensive valuation, reflected in a price-to-book ratio of 4.7, raises questions about its sustainability in the face of declining sales and profits.