Why is Rolex Rings falling/rising?

As of 01-Sep, Rolex Rings Ltd is experiencing a price increase, currently at 1,385.05, reflecting a rise of 20.05 or 1.47%. Today, the stock opened with a significant gain of 6.23% and reached an intraday high of Rs 1461.95, which is a 7.1% increase. Despite this positive movement today, the stock has shown a negative performance over the past week and month, with declines of 1.28% and 2.43%, respectively. The company has a high management efficiency indicated by a return on equity (ROE) of 22.12% and a low debt to EBITDA ratio of 0.27, which suggests strong financial health. However, the stock has underperformed in the long term, with a 43.65% decline over the past year and a poor growth rate in net sales and operating profit over the last five years.
In the broader market context, Rolex Rings has outperformed its sector by 0.27% today, but its overall performance remains concerning compared to the benchmark, as it has generated negative returns over multiple periods while the Sensex has shown positive growth. The stock's long-term underperformance is highlighted by its significant decline in returns compared to the BSE500 over the last three years and one year. Despite the recent uptick in investor participation, the stock is trading below its moving averages, indicating a lack of sustained momentum. The expensive valuation, as indicated by a price to book value of 3.5, further complicates its attractiveness to investors, especially given the flat results reported in June.