Why is Engineers India falling/rising?

As of 09-Jul, Engineers India Ltd. is experiencing a price increase, currently at Rs 246.00, reflecting a rise of 4.4 (1.82%). The stock has outperformed its sector by 1.5% today and has shown a consecutive gain over the last two days, accumulating a total return of 4.08% in this period. Additionally, the stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong upward trend. Despite a recent decline in investor participation, with delivery volume down by 14.05% against the 5-day average, the company has demonstrated high management efficiency with a return on equity (ROE) of 16.04% and a significant growth in net profit of 158.44%, which has positively influenced investor sentiment.
In the broader market context, Engineers India Ltd. has outperformed the Sensex, which only increased by 0.15% over the past week, while the stock rose by 4.88%. This trend is further supported by a year-to-date return of 34.79% for Engineers India, compared to the Sensex's 6.91%. However, it is important to note that the company has faced challenges with poor long-term growth, as net sales have declined at an annual rate of -0.94% over the last five years, and the stock is trading at a premium compared to its peers. Despite these risks, the recent strong financial results and efficient management have contributed to the stock's positive momentum in the short term.