Why is Sigachi Indust. falling/rising?

As of 29-Aug, Sigachi Industries Ltd is currently priced at 31.04, reflecting an increase of 0.31 or 1.01%. The stock has recently gained after two consecutive days of decline, although it remains close to its 52-week low, just 1.61% away from Rs 30.54. Over the past week, the stock has underperformed with a return of -1.15%, while the Sensex has declined by -1.84%. In the last month, Sigachi has seen a significant drop of -20.82%, contrasting sharply with the Sensex's minor decline of -1.88%. Despite a low debt-to-equity ratio of 0.07 and a return on equity of 11.6, which suggests attractive valuation, the stock's performance has been hindered by a -47.93% return over the past year and a decrease in investor participation, as evidenced by a 24.56% drop in delivery volume.
Broader market context indicates that while Sigachi's recent performance has shown a slight uptick, it has still lagged behind the broader market trends. The stock's long-term performance has been disappointing, with negative returns over one year and three years compared to the BSE500. The high percentage of pledged promoter shares, at 45.37%, adds to the downward pressure in a falling market, further complicating the stock's recovery. Overall, while there are some positive indicators, such as a recent gain and attractive valuation metrics, the broader context of underperformance and declining investor interest suggests that the stock's rise may be limited.