Why is Elecon Engg.Co falling/rising?

As of 13-Aug, Elecon Engineering Company Ltd is experiencing a price increase, with its current price at 567.45, reflecting a rise of 22.45 or 4.12%. The stock has outperformed its sector by 3.48% today and has shown a consecutive gain over the last three days, accumulating a total return of 4.98% during this period. Despite a decline of 8.56% over the past month and a year-to-date drop of 10.60%, the company has demonstrated strong operational performance, with a high return on equity (ROE) of 16.24% and a low debt-to-equity ratio of 0.05. Additionally, the latest financial results indicate significant growth in operating profit, net sales, and profit after tax, which may contribute positively to investor sentiment.
In the broader market context, the stock's short-term return of +0.87% over the past week contrasts with the Sensex, which has remained flat with a change of -0.01%. This indicates that Elecon Engineering is performing better than the overall market in the short term. However, the stock's long-term performance shows a decline of 4.95% over the past year, despite a profit increase of 26.1%, suggesting that while the company is growing, its valuation may be perceived as expensive with a price-to-book ratio of 6.1. The falling investor participation, indicated by a decrease in delivery volume, could also be a concern for future price movements.