Why is Eveready Inds. falling/rising?

As of 31-Jul, Eveready Industries India Ltd is experiencing a price increase, currently at Rs 422.00, reflecting a rise of Rs 13.05 or 3.19%. Today's price summary indicates that the stock outperformed its sector by 4.1%, reaching an intraday high of Rs 443.5, which is an increase of 8.45%. However, it also saw a low of Rs 393.9, indicating significant volatility with an intraday fluctuation of 5.71%. Over the past month, the stock has shown a strong performance with a return of 33.40%, contrasting with a decline of 3.00% in the benchmark index. The company has demonstrated high management efficiency with a return on capital employed (ROCE) of 18.23%, and it has reported positive results for the last eight consecutive quarters, contributing to the stock's upward movement.
In the broader market context, while the stock has outperformed the Sensex in the short term, it has seen a decline of 2.27% over the past week compared to the benchmark's decline of 1.22%. The stock's year-to-date return of 7.49% also surpasses the Sensex's 3.90%. Despite the positive performance metrics, there are concerns regarding falling investor participation, as the delivery volume has decreased significantly by 83.97% against the five-day average. This decline in participation could pose a risk to sustained price increases, even as the stock remains liquid enough for trading. Overall, the combination of strong financial performance and recent price movements suggests a positive outlook, although the volatility and reduced investor engagement warrant caution.