Why is Signet Industrie falling/rising?

As of 19-Aug, Signet Industries Ltd is experiencing a price increase, currently at Rs 54.39, which reflects a rise of 2.39 or 4.6%. Today's price summary indicates that the stock has outperformed its sector by 2.25% and has shown a trend reversal after two consecutive days of decline. Despite opening with a loss of 3.63%, the stock reached an intraday high of Rs 54.39. However, it has been trading below its moving averages and has shown high volatility today with an intraday volatility of 5.28%. Over the past year, the stock has generated a return of -24.10%, despite a significant profit increase of 49.1%, indicating a disconnect between stock performance and profitability. The company has an attractive valuation with a low PEG ratio of 0.2, but it also faces challenges such as a high Debt to EBITDA ratio of 4.08 times, which suggests a low ability to service debt.
In the broader market context, the stock's short-term performance over the past week shows a modest gain of 0.35%, while the benchmark Sensex has increased by 1.76%. This indicates that while Signet Industries is rising today, it has underperformed the benchmark over the last month and year-to-date, with returns of -10.65% and -24.25%, respectively. The overall market sentiment appears to be more favorable, as the sector of Plastic Products has gained by 2.42%. However, the significant drop in delivery volume and the company's flat long-term growth prospects suggest that investor confidence may still be fragile, impacting the stock's ability to sustain its recent gains.