Why is Sangam India falling/rising?

As of 06-Aug, Sangam (India) Ltd is experiencing a price increase, currently at Rs 374.00, reflecting a rise of Rs 13.25 or 3.67%. The stock has shown a trend reversal today, gaining after five consecutive days of decline. It reached an intraday high of Rs 383.85, indicating a 6.4% increase during the day. Despite this positive movement, the stock is still trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Additionally, while the stock has underperformed in the longer term with a year-to-date return of -9.66%, it has outperformed the sector today by 5.74%. Notably, there has been a significant increase in investor participation, with delivery volume rising by 405.06% compared to the 5-day average, suggesting renewed interest from investors.
In the broader market context, Sangam's short-term performance contrasts with the benchmark Sensex, which has only declined by 1.15% over the past week, while Sangam's stock has fallen by 15.38%. This indicates that the stock has been underperforming relative to the market in the short term, despite today's positive movement. The textile sector, in which Sangam operates, has also seen a decline of 2.07%, reflecting broader challenges within the industry. Overall, while today's price increase is a positive sign, the stock's recent history of underperformance and the sector's struggles suggest that caution may still be warranted.