Why is Elecon Engg.Co falling/rising?

As of 05-Sep, Elecon Engineering Company Ltd's stock price is currently at 555.50, reflecting an increase of 2.3, or 0.42%. Today, the stock opened with a gain of 2.49% and reached an intraday high of Rs 567. However, despite this positive movement, the stock has underperformed the benchmark Sensex over the past week, with a return of +0.62% compared to the Sensex's +1.13%. Additionally, the stock's performance over the last month shows a decline of 2.97%, while year-to-date, it has dropped by 12.49%. The company exhibits strong fundamentals, including a high return on equity of 16.24% and a low debt-to-equity ratio of 0.05, which contribute positively to investor sentiment. Furthermore, the company has reported significant growth in operating profit and net sales, indicating healthy long-term growth prospects.
In the broader market context, the stock's recent performance is somewhat mixed when compared to the benchmark. While it has outperformed the sector today, the overall year-to-date performance is concerning, especially against the backdrop of a +3.29% return from the Sensex. The falling investor participation, indicated by a 19.09% decrease in delivery volume compared to the five-day average, may also be a factor influencing the stock's price movements. Despite the positive operational results and management efficiency, the stock's liquidity remains adequate for trading, but the overall market sentiment appears cautious, reflecting in the stock's recent volatility and performance relative to the benchmark.