Why is The Hi-Tech Gear falling/rising?

As of 22-Jul, The Hi-Tech Gears Ltd is experiencing a price increase, currently at Rs 690.00, reflecting a rise of Rs 17.05 or 2.53%. Today's price summary indicates that the stock outperformed its sector by 3.59%, reaching an intraday high of Rs 690, although it also touched a low of Rs 647.05 earlier in the day. Over the past week, the stock has seen a decline of 2.13%, and it has underperformed the market significantly over the past year with a return of -25.00%. Despite this, the stock is trading at a discount compared to its peers, and it has an attractive valuation with a return on capital employed (ROCE) of 11.1%. However, the company has faced challenges, including a 16.9% decline in profits over the past year, which may contribute to investor caution.
In the broader market context, while the Sensex has shown a slight decline of 0.47% over the past week, The Hi-Tech Gears Ltd's recent performance reflects a stronger short-term recovery compared to its longer-term trends. The stock's negative returns over the past year contrast sharply with the market's overall performance, which has generated a return of 0.99%. Additionally, the low participation from domestic mutual funds, holding only 0% of the company, suggests a lack of confidence in the stock's long-term prospects. This combination of short-term gains amidst a backdrop of longer-term underperformance and fundamental weaknesses may explain the stock's current price movement.