Why is Engineers India falling/rising?

As of 23-Jun, Engineers India Ltd. is experiencing a price increase, currently at 228.85, reflecting a rise of 7.65 or 3.46%. The stock has shown strong performance recently, outperforming its sector by 3.51% today and achieving a consecutive gain over the last two days with a total return of 6.94%. It has also been trading above its moving averages across various time frames, indicating positive momentum. However, despite these gains, the stock has underperformed over the past year, with a return of -10.85%, even as the company reported a significant growth in net profit of 158.44% and high management efficiency with a return on equity of 16.04%. The stock's valuation appears expensive compared to its peers, which may be a concern for some investors.
In the broader market context, Engineers India has outperformed the benchmark Sensex in the short term, with a 1-week return of +2.07% compared to the Sensex's +0.12%, and a 1-month return of +14.80% against the Sensex's +0.22%. This indicates that while the stock is gaining traction in the short term, it has struggled to keep pace with the market over the longer term, as evidenced by its negative return over the past year. The falling investor participation, with a notable decrease in delivery volume, could also signal caution among investors despite the recent positive results.