Why is Rolex Rings falling/rising?

As of 11-Sep, Rolex Rings Ltd is currently priced at 1,395.00, reflecting an increase of 10.0 (0.72%). The stock opened with a gain of 2.02% today and reached an intraday high of Rs 1412.95. Despite this positive movement, the stock has shown poor long-term growth, with a year-to-date decline of 24.47% and a staggering 43.59% drop over the past year. While the company exhibits high management efficiency with a return on equity (ROE) of 22.12% and a low debt-to-EBITDA ratio of 0.27, it faces challenges such as flat results in June and an expensive valuation with a price-to-book ratio of 3.5. The stock's performance has been below par in both the long and near term, contributing to its overall decline.
In the broader market context, the stock's short-term performance has been relatively in line with the sector, as indicated by its 1-week return of 0.00% compared to the Sensex's 1.03%. However, the stock's long-term underperformance is stark, with a 3-year return of -29.10% against the Sensex's 36.38%. The rising investor participation, evidenced by a 20.87% increase in delivery volume, suggests some interest in the stock, but the overall negative sentiment stemming from its historical performance and valuation concerns continues to weigh heavily on its price movement.