Why is Elgi Equipments falling/rising?

As of 17-Nov, Elgi Equipments Ltd is experiencing a price increase, currently at 515.75, which reflects a rise of 14.75 or 2.94%. The stock has shown strong performance recently, gaining 8.79% over the past week and outperforming its sector by 1.82% today. It has also been on a consecutive gain streak for the last five days, with an intraday high of Rs 534.25. Despite a decline in delivery volume, the stock is trading above its moving averages, indicating positive momentum. The company has demonstrated strong long-term fundamentals, including a 47.75% CAGR growth in operating profits and a low debt-to-EBITDA ratio of 0.44, which supports its ability to service debt effectively. Additionally, high institutional holdings at 32.36% suggest confidence from knowledgeable investors.
In the broader market context, Elgi Equipments has outperformed the Sensex over the past week and month, with returns of 8.79% and 10.70%, respectively, compared to the Sensex's 1.69% and 1.19%. However, the stock has underperformed year-to-date and over the past year, with declines of 10.82% and 12.10%, respectively. This indicates that while the stock is currently rising, it has faced challenges in the longer term. The company's recent positive quarterly results and strong operational metrics contribute to its current upward movement, contrasting with the broader market trends where it has lagged behind in the longer time frames.