Why is Concord Enviro falling/rising?

As of 22-Jul, Concord Enviro Systems Ltd is experiencing a price increase, currently at Rs 618.50, reflecting a change of 4.35 (0.71%) upwards. The stock has shown strong performance recently, with a 1-week return of +6.94% and a 1-month return of +12.25%, significantly outperforming the Sensex, which has seen declines of -0.47% and -0.27% over the same periods. Today's trading has also been positive, with the stock reaching an intraday high of Rs 637.35, and it is trading above all key moving averages. Additionally, there has been a notable increase in investor participation, with delivery volume rising by 667.63% compared to the 5-day average. The company has reported impressive quarterly results, including a 361.5% growth in PAT and a 40.9% increase in net sales, contributing to a favorable outlook despite a year-to-date decline of -16.87%.
In the broader market context, while Concord Enviro has outperformed the Sensex in the short term, the benchmark has shown a positive year-to-date return of +5.18%. This contrast highlights the stock's relative strength in a challenging market environment. The company's low debt-to-equity ratio and attractive valuation, with a price-to-book value of 2.4, further support its recent price movement. However, it is important to note that despite the positive quarterly results, the stock's profits have fallen by -39% over the past year, which may temper investor expectations moving forward.