Why is Signet Industrie falling/rising?

As of 31-Jul, Signet Industries Ltd is experiencing a price increase, with the current price at Rs 56.55, reflecting a rise of 1.05 or 1.89%. Today's performance indicates that the stock outperformed its sector by 2.52%, reaching an intraday high of Rs 58.26, although it also faced a low of Rs 53.2. Over the past week, the stock has seen a decline of 6.68%, and over the past month, it has dropped by 10.25%. Despite these short-term losses, the company reported positive financial results, including a significant 154% growth in PAT and a 26% increase in net sales compared to previous quarters. The stock is currently trading at a discount to its peers, which may attract investors looking for value.
Broader Market Context: In comparison to the benchmark Sensex, which has declined by 1.22% over the past week, Signet Industries' short-term performance is notably worse, indicating a more pronounced volatility in its stock price. The broader market context shows that while the stock has struggled year-to-date with a decline of 21.24%, it has outperformed the Sensex over a three-year period, gaining 46.50% compared to the benchmark's 41.02%. This suggests that despite recent challenges, the stock has potential for recovery, particularly given its attractive valuation metrics and the support of majority shareholders, which may provide some stability moving forward.