Why is Regis Industries falling/rising?

As of 19-Aug, Regis Industries Ltd's stock price is currently at Rs. 8.55, reflecting an increase of Rs. 0.13 or 1.54%. The stock has recently shown a trend reversal after four consecutive days of decline, outperforming its sector by 1.57%. However, it is trading below all key moving averages, indicating a bearish trend. The stock has experienced significant declines over various periods, with a 1-month return of -16.91% and a year-to-date return of -46.56%. Despite a notable increase in profit after tax (PAT) of 1954.5% in the latest quarter, the stock's long-term fundamental strength is weak, evidenced by a low return on equity (ROE) of 0.07% and a high price-to-book value ratio of 5.6, which suggests it is overvalued compared to its peers.
Broader market context shows that while the Sensex has gained 1.76% over the past week, Regis Industries has declined by 4.36%, indicating a significant underperformance relative to the benchmark. The stock's liquidity remains adequate for trading, but investor participation has decreased sharply, with delivery volume falling by 53.9% against the 5-day average. This lack of investor confidence, combined with the stock's substantial underperformance over the past year, where it fell by 42.87% compared to a market decline of only 0.91%, suggests that the stock's recent rise may not be sustainable without a significant improvement in its fundamentals.