Why is Trident falling/rising?

As of 01-Sep, Trident Ltd's stock price is currently at 27.63, reflecting an increase of 0.23, or 0.84%. The stock has recently experienced a trend reversal, gaining after six consecutive days of decline. However, it remains below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a generally bearish trend. The stock's performance over the past week shows a decline of 2.19%, while it has underperformed the benchmark Sensex over the past month and year, with returns of -4.56% and -25.28%, respectively. Despite these challenges, the company has demonstrated strong financial health, with significant growth in profit before tax and profit after tax in the latest quarter, alongside a low Debt to EBITDA ratio, which suggests a solid ability to service its debt.
In the broader market context, Trident's recent performance contrasts with the Sensex, which has seen a smaller decline of 1.56% over the past week and a positive return of 2.85% year-to-date. The stock's underperformance against the benchmark over the last three years, coupled with a low stake held by domestic mutual funds, may indicate a lack of confidence in its current valuation or business prospects. While Trident's market capitalization and sales position it as a significant player in its sector, the consistent negative returns and declining investor participation could be contributing to the cautious sentiment surrounding the stock.