Why is Sky Industries falling/rising?

As of 07-Jul, Sky Industries Ltd is currently priced at 101.80, reflecting a decrease of 4.3 points or 4.05%. Today, the stock opened with a gain of 8.34%, reaching an intraday high of Rs 114.95, but subsequently fell to a low of Rs 100, indicating high volatility with a wide trading range of Rs 14.95. Despite the positive short-term performance with a 6.81% increase over the past week, the stock has significantly underperformed its sector by 1.89% today. Over the last year, the stock has generated a return of -8.27%, contrasting with a 31.3% increase in profits, which suggests a disconnect between profitability and stock performance. The company's attractive valuation, indicated by a ROCE of 13.1 and a PEG ratio of 0.4, is overshadowed by weak long-term fundamentals and flat results in recent quarters.
Broader Market Context: In comparison to the benchmark, Sky Industries has shown a positive return of 9.46% over the past month, while the Sensex has only increased by 1.53%. However, the stock's year-to-date performance is concerning, with a decline of 40.81% against the Sensex's gain of 6.79%. This underperformance in the long term, coupled with a low average return on equity of 9.55%, highlights the challenges the company faces in attracting investor confidence. The overall market sentiment appears to be cautious, particularly as the fasteners sector has also declined by 2.1%, further contributing to the stock's downward pressure.