Why is SKF India falling/rising?

As of 08-Jul, SKF India Ltd. is currently priced at 4,960.00, reflecting an increase of 29.5, or 0.6%. The stock has shown a trend reversal, gaining after two consecutive days of decline, although it has underperformed its sector by 2.07%. In terms of returns, SKF India has performed positively over the past week and month, with increases of 1.68% and 5.20%, respectively. However, it has significantly underperformed over the past year, with a decline of 21.49%. The company boasts high management efficiency, evidenced by a return on equity (ROE) of 21.42%, and has shown strong growth in profit before tax and profit after tax compared to previous quarters. Despite these positives, the stock faces challenges such as poor long-term growth and a high price-to-book value, which may contribute to its recent price movements.
In the broader market context, SKF India's short-term performance has outpaced the benchmark Sensex, which has only increased by 0.02% over the past week. However, the stock's long-term performance remains concerning, as it has underperformed the market over the past year, generating negative returns while the broader market has seen modest gains. The decline in investor participation, with a significant drop in delivery volume, may also indicate waning interest among retail investors, which could further impact the stock's performance. Overall, while SKF India shows some positive indicators, its recent price movement reflects a complex interplay of strong short-term gains against a backdrop of longer-term challenges.