Why is Triveni Turbine falling/rising?

As of 02-Sep, Triveni Turbine Ltd. is experiencing a price increase, currently at Rs 530.20, which reflects a rise of Rs 11.5 or 2.22%. Today's performance indicates a trend reversal as the stock has gained after four consecutive days of decline. It outperformed its sector by 2.03% and reached an intraday high of Rs 533.05. However, the stock has shown a negative return of -9.79% over the past month and -28.26% year-to-date, indicating significant underperformance compared to the broader market. The company has strong long-term fundamentals, with an average Return on Equity (ROE) of 23.08% and a low Debt to Equity ratio, but it faces challenges with recent financial metrics showing declines in net sales and profit after tax compared to previous quarters.
In the broader market context, the stock's recent performance contrasts with the benchmark, as it has outperformed the Sensex by 0.04% over the past week, while the Sensex itself has declined by 0.78%. Despite this short-term outperformance, Triveni Turbine has significantly underperformed the market over the last year, with a return of -27.68% compared to the BSE500's -4.82%. The high institutional holdings at 37.59% suggest that informed investors are involved, but the stock's valuation appears expensive with a Price to Book Value of 13.9, which may deter new investments. Overall, while there are signs of a potential recovery in the short term, the long-term outlook remains cautious due to recent financial performance and valuation concerns.