Why is Vedant Fashions falling/rising?

As of 04-Aug, Vedant Fashions Ltd is experiencing a price increase, currently at 758.75, reflecting a rise of 16.3 or 2.2%. Today's performance indicates that the stock has outperformed its sector by 2.02% and has gained after two consecutive days of decline, reaching an intraday high of Rs 763.15. However, the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, which suggests a bearish trend in the longer term. Additionally, there has been a significant drop in investor participation, with delivery volume falling by 59.15% compared to the 5-day average. Despite high management efficiency and low debt levels, the company has shown poor long-term growth, with net sales and operating profit growing at rates of only 6.75% and 0.93% respectively over the last five years. This, combined with a high valuation and consistent underperformance against benchmarks, raises concerns about the stock's sustainability.
In the broader market context, Vedant Fashions has underperformed compared to the Sensex over various periods, including a 1-week return of -0.09% against the benchmark's +0.16% and a year-to-date decline of -40.79% compared to the Sensex's +3.69%. This consistent underperformance highlights the challenges the company faces in attracting investor confidence, especially given its flat results and high PEG ratio. While the stock has seen a short-term uptick, the long-term outlook remains concerning, as evidenced by its historical performance relative to the broader market.