Why is Engineers India falling/rising?

As of 10-Jul, Engineers India Ltd. is experiencing a price increase, with its current price at 250.25, reflecting a rise of 4.25 or 1.73%. The stock has shown strong performance recently, outperforming its sector by 1.49% today and achieving consecutive gains over the last three days, resulting in a total return of 5.88% during this period. Additionally, the stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive trend. The company has also seen a significant increase in investor participation, with delivery volume rising by 118.69% against the 5-day average. Positive financial results, including a 158.44% growth in net profit and a high return on equity of 16.04%, further support the stock's upward movement, despite concerns about long-term growth due to a negative annual rate in net sales over the past five years.
In the broader market context, Engineers India has outperformed the benchmark Sensex in the short term, with a 1-week return of +6.49% compared to the Sensex's slight decline of -0.06%. Year-to-date, the stock has also significantly outperformed the benchmark, with a return of +37.12% against the Sensex's +6.46%. This strong performance relative to the market suggests that investor confidence in Engineers India remains robust, bolstered by its recent positive financial results and efficient management, despite some valuation concerns and a history of poor long-term growth.