Why is Refex Industries falling/rising?

As of 04-Sep, Refex Industries Ltd is currently priced at 369.90, reflecting an increase of 2.15 (0.58%). The stock has been gaining for the last five days, with a total return of 2.2% during this period, outperforming its sector by 0.87%. However, the stock has experienced a significant decline of 12.65% over the past month and a year-to-date drop of 23.33%. Despite these negative trends, the company demonstrates a strong ability to service debt, with a low Debt to EBITDA ratio of 0.67 times, and has shown healthy long-term growth with net sales increasing at an annual rate of 29.75%. Nonetheless, the company reported negative results in June, including a 3.96% fall in operating profit and a substantial decline in net sales, which may contribute to investor caution.
In the broader market context, Refex Industries has outperformed the Sensex in the short term, with a 1-week return of 2.20% compared to the benchmark's 0.80%. However, the stock's long-term performance remains concerning, as it has underperformed the Sensex year-to-date and over the past year. The low participation from domestic mutual funds, holding only 0.32% of the company, suggests a lack of confidence in the stock's valuation, which is considered expensive with a Price to Book Value of 3.9. This combination of factors indicates that while there may be short-term gains, the overall sentiment surrounding the stock remains cautious due to its recent financial performance and valuation concerns.