Why is Vedant Fashions falling/rising?

As of 11-Aug, Vedant Fashions Ltd is experiencing a price increase, currently at 749.45, reflecting a rise of 12.45 or 1.69%. The stock has shown a positive trend recently, gaining for the last two days with a total return of 2.31%. However, it has underperformed in the longer term, with a decline of 5.97% over the past month and a significant drop of 41.52% year-to-date. Despite high management efficiency indicated by a return on equity (ROE) of 30.19% and a low debt-to-equity ratio, the company faces challenges with poor long-term growth, as evidenced by a modest annual net sales growth of 6.75% over the last five years. Additionally, the stock's valuation appears expensive compared to peers, contributing to its recent price movements.
In the broader market context, Vedant Fashions has underperformed against the benchmark Sensex, which has shown a slight decline of 0.51% over the past week, while Vedant's stock has decreased by 0.99%. This trend continues in the longer term, with the stock generating a return of -33.26% over the past year, contrasting sharply with the Sensex's gain of 1.13%. The stock's recent performance, while positive in the short term, is overshadowed by its consistent underperformance against broader market indices over the past three years, indicating a challenging environment for the company despite some positive indicators like high institutional holdings.