Why is Apar Inds. falling/rising?

As of 18-Sep, Apar Industries Ltd is experiencing a price increase, currently at 8,959.75, reflecting a rise of 49.75 or 0.56%. The stock has shown a positive trend, gaining 4.48% over the last three days and outperforming the benchmark Sensex with a weekly return of 5.59% compared to the Sensex's 1.80%. Despite a year-to-date decline of 13.09%, the company has demonstrated strong fundamentals, including a low debt-to-equity ratio of 0.01 and significant growth in net sales and operating profit. The stock is trading above its moving averages, indicating bullish momentum, although there has been a decrease in investor participation, with delivery volume falling by 17.62% against the five-day average.
In the broader market context, Apar Industries' recent performance contrasts with the Sensex, which has seen a modest gain of 2.14% over the past month. The company's high institutional holdings at 30.86% suggest confidence from larger investors who can better assess the company's fundamentals. While the stock has faced challenges over the past year, with a return of -10.48%, its profitability metrics, such as a return on capital employed of 35.20% and a fair valuation based on its price-to-book ratio, indicate potential for recovery and growth, contributing to the recent upward price movement.