Why is ASM Technologies falling/rising?

As of 30-Jul, ASM Technologies Ltd's stock price is currently at Rs 2,861.00, reflecting an increase of Rs 79.8 or 2.87%. The stock has shown a trend reversal, gaining after three consecutive days of decline, and it outperformed its sector by 2.76% today. The stock reached an intraday high of Rs 2,970, indicating strong intraday performance. Over the past week, the stock has experienced a decline of 10.05%, but it has shown a positive return of 7.44% over the past month and an impressive 108.98% year-to-date. The company's strong financial metrics, including a low Debt to EBITDA ratio and significant growth in net profit and operating profit, contribute positively to its recent price movement. However, the stock's high valuation and lack of domestic mutual fund investment may raise concerns among some investors.
In the broader market context, while ASM Technologies has outperformed the Sensex by generating a return of 88.93% over the past year, the benchmark has only seen a marginal increase of 0.03%. This indicates that ASM Technologies is performing significantly better than the overall market. Despite the recent short-term decline, the stock's long-term growth potential, as evidenced by consistent returns over the past three years, supports its upward price movement. The rising investor participation, as shown by increased delivery volume, further suggests a positive sentiment towards the stock amidst the broader market's challenges.