Why is eMudhra falling/rising?

As of 23-Jul, eMudhra Ltd's stock price is currently at Rs 830.55, reflecting an increase of Rs 18.9 or 2.33%. The stock has shown strong performance today, outperforming its sector by 1.88% and reaching an intraday high of Rs 835.2, which is a 2.9% increase. Over the past week, the stock has gained 1.32%, and over the past month, it has risen significantly by 16.09%. The company has demonstrated high management efficiency with a return on equity (ROE) of 16.41% and a low debt-to-equity ratio, contributing to a healthy long-term growth outlook. Additionally, eMudhra has reported positive results for the last 11 consecutive quarters, with net sales growing at an annual rate of 41.68%, which supports investor confidence.
In the broader market context, eMudhra's short-term performance has outpaced the benchmark Sensex, which has only increased by 0.11% over the same week. Despite this positive momentum, there has been a decline in investor participation, with delivery volume falling by 24.82% against the five-day average, indicating a potential concern for liquidity. However, the stock remains liquid enough for trading, and high institutional holdings at 20.2% suggest that more sophisticated investors are backing the company, which may provide additional stability and confidence in its future performance.