Why is Engineers India falling/rising?

As of 21-Aug, Engineers India Ltd. is experiencing a price increase, currently at Rs 195.40, reflecting a rise of 1.0 (0.51%). The stock has shown a positive performance today, reaching an intraday high of Rs 198.4, which is a 2.06% increase. However, despite this short-term gain, the stock has underperformed over the past month with a decline of 16.92%. The company boasts a high management efficiency with a return on equity (ROE) of 16.04% and a low debt-to-equity ratio, which are positive indicators. Nonetheless, the stock faces challenges due to poor long-term growth, as evidenced by flat results in June and a significant drop in profit before tax and profit after tax compared to previous quarters. Additionally, while institutional holdings have increased, indicating confidence from larger investors, the stock's valuation remains high relative to its peers.
In the broader market context, Engineers India has outperformed the benchmark Sensex in the short term, with a weekly return of +2.60% compared to the Sensex's +1.74%. However, the stock's longer-term performance is concerning, as it has declined by 10.82% over the past year while the Sensex has gained 1.35%. The falling investor participation, with a notable decrease in delivery volume, suggests a lack of confidence among retail investors, which could further impact the stock's performance. Overall, while there are some positive factors supporting the stock's recent rise, the underlying issues related to growth and valuation may pose significant challenges moving forward.