Why is Esab India falling/rising?

As of 21-Jul, Esab India Ltd's stock price is currently at Rs 5,696.80, reflecting an increase of Rs 113.05 or 2.02%. The stock has shown strong performance today, outperforming its sector by 1.61% and reaching an intraday high of Rs 5,760, which is a 3.16% increase. Over the past week, the stock has risen by 10.49%, while it has also gained 13.40% over the past month. Despite a year-to-date decline of 3.58% and a 12.01% drop over the past year, the stock has demonstrated impressive long-term growth, with a 69.94% increase over three years and a remarkable 327.45% rise over five years. The company benefits from high management efficiency, indicated by a return on equity (ROE) of 36.78%, and maintains a low debt-to-equity ratio, which supports its stability and growth potential.
In the broader market context, while Esab India has outperformed the Sensex in the short term, with a 10.49% increase compared to a slight decline of 0.06% for the benchmark over the past week, it has underperformed year-to-date against the Sensex, which has risen by 5.20%. The stock's liquidity remains adequate for trading, although there has been a decline in investor participation, with delivery volume falling by 18.82% against the five-day average. This decline in participation may indicate some caution among investors, despite the positive factors supporting the stock's recent upward movement.