Why is Refex Industries falling/rising?

As of 29-Aug, Refex Industries Ltd is experiencing a price increase, with its current price at Rs 365.10, reflecting a rise of Rs 3.15 or 0.87%. Today's performance indicates a trend reversal as the stock has gained after three consecutive days of decline, outperforming its sector by 1.11%. Despite this positive movement, the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, which suggests ongoing challenges. The stock has shown a significant decline over the past month, down 10.74%, and a year-to-date drop of 24.32%, although it has generated a return of 19.82% over the past year. The company has a strong ability to service debt and has shown healthy long-term growth in net sales and operating profit, but it recently reported negative results, including a fall in operating profit and net sales, which may contribute to investor caution.
In the broader market context, Refex Industries' short-term performance has been weaker than the benchmark, with a 1-week return of -3.55% compared to the Sensex's -1.84%. This underperformance in the short term contrasts with the stock's impressive long-term returns, particularly over the past three years, where it has gained 1162.88% compared to the Sensex's 37.67%. The low participation from domestic mutual funds, holding only 0.32% of the company, may indicate a lack of confidence in the stock's current valuation, despite its historical performance. Overall, while the stock is currently rising, the mixed signals from recent financial results and market participation suggest that investors remain cautious.