Why is Garware Hi Tech falling/rising?

As of 15-Jul, Garware Hi Tech Films Ltd is experiencing a price increase, currently at Rs 3,689.10, reflecting a rise of Rs 65.15 or 1.8%. The stock has shown a positive performance today, outperforming its sector by 0.6% and achieving a consecutive gain over the last two days with a total return of 2.47%. Despite a decline of 0.89% over the past week and a significant drop of 13.75% over the last month, the stock has performed well over the past year with a return of 63.98%. Positive factors contributing to this rise include the company's consistent financial performance, with net sales growing by 26.02% and profit after tax increasing by 21.92% over the last nine months. Additionally, institutional investors have increased their stake, indicating growing confidence in the company's fundamentals.
Broader Market Context: In the context of the broader market, the stock's short-term performance has been relatively better than the benchmark, as it has outperformed the Sensex, which has declined by 1.36% over the past week. However, the stock's year-to-date performance shows a significant underperformance compared to the Sensex, which has gained 5.67%. The company's low debt-to-equity ratio and strong returns on capital employed further support its resilience in a challenging market environment, suggesting that while it faces short-term volatility, its long-term outlook remains positive.