Why is Esab India falling/rising?

As of 11-Nov, Esab India Ltd's stock price is rising, currently at Rs 5,253.75, reflecting an increase of Rs 406.55 or 8.39%. The stock has shown strong performance today, outperforming its sector by 3.45% and gaining 10.24% over the last two days. It opened with a significant gain of 7.07% and reached an intraday high of Rs 5,567.5, which is a 14.86% increase. Additionally, the stock has been trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Despite a year-to-date decline of 11.08%, the stock has performed well in the short term, with a 7.47% increase over the past week and a 6.79% increase over the past month. The company's strong long-term fundamentals, including a high return on equity of 42.27% and significant growth in operating profit, contribute positively to its recent price movement.
In the broader market context, Esab India's short-term performance has significantly outpaced the benchmark Sensex, which has only increased by 0.49% over the past week. The sector of Electrodes & Welding Equipment has also seen gains of 4.77%, indicating a favorable environment for the stock. However, there is a noted decline in investor participation, with delivery volume dropping by 50.85% compared to the 5-day average, which could raise concerns about sustainability in the stock's upward momentum. Overall, while the stock is currently rising due to strong fundamentals and positive short-term performance, the decrease in trading volume suggests caution moving forward.