Why is Vraj Iron falling/rising?

As of 19-Sep, Vraj Iron & Steel Ltd's stock price is currently at Rs 156.75, reflecting an increase of Rs 3.55 or 2.32%. The stock has shown a positive trend today, outperforming its sector by 2.12% and reversing a two-day decline. It reached an intraday high of Rs 156.75, and the delivery volume has significantly increased by 152.17% compared to the five-day average, indicating rising investor participation. However, despite this short-term gain, the stock has experienced a substantial decline of 36.56% over the past year, with profits falling by 23%. The company's low debt-to-equity ratio and attractive valuation with a price-to-book value of 1.3 are positive factors, but the poor long-term growth and minimal domestic mutual fund interest suggest underlying concerns.
In the broader market context, Vraj Iron & Steel's short-term performance of +2.12% over the past week contrasts with the Sensex's gain of only +0.88%, indicating a relative strength in the stock's recent movement. However, the stock's year-to-date performance remains significantly negative at -28.59%, while the Sensex has gained 5.74% during the same period. This disparity highlights the challenges Vraj Iron faces in regaining investor confidence, particularly given its underperformance relative to broader market indices over the longer term.