Why is Rolex Rings falling/rising?

As of 19-Aug, Rolex Rings Ltd is experiencing a price increase, currently at 1,439.40, reflecting a rise of 69.4 points or 5.07%. Today's performance indicates that the stock has outperformed its sector by 4.33%, reaching an intraday high of Rs 1,448.55. However, despite this positive movement, the stock has shown a decline of 3.65% over the past month and a significant drop of 22.07% year-to-date. The company boasts high management efficiency with a return on equity (ROE) of 22.12% and a low debt to EBITDA ratio of 0.27, which suggests a strong ability to service debt. Nonetheless, the stock faces challenges due to poor long-term growth, with net sales and operating profit growing at annual rates of only 10.18% and 8.89%, respectively, over the last five years, and a flat performance in recent results.
Broader market context shows that while Rolex Rings has outperformed the Sensex in the short term, with a weekly return of 6.95% compared to the Sensex's 1.76%, it has significantly underperformed in the longer term, with a one-year return of -35.47% against the Sensex's 1.52%. This underperformance is compounded by falling investor participation, as indicated by a 53.09% drop in delivery volume compared to the five-day average. The stock's valuation appears expensive with a price to book value of 3.7, and despite a recent uptick, the overall trend suggests a lack of confidence from investors, particularly given its historical performance relative to peers.