Why is Garware Hi Tech falling/rising?

As of 24-Jul, Garware Hi Tech Films Ltd is experiencing a rise in its stock price, currently at Rs 3,764.10, reflecting an increase of Rs 102.9 or 2.81%. Today's performance indicates that the stock has outperformed its sector by 2.77%, reaching an intraday high of Rs 3,779.9, which is a 3.24% increase. Despite a negative return of -6.71% over the past month and a year-to-date decline of -25.54%, the stock has shown strong long-term performance, with a 61.51% increase over the past year and a remarkable 340.74% rise over the last three years. The company has consistently reported positive results for the last seven quarters, showcasing significant growth in net sales and profit after tax, which supports its current upward price movement.
In the broader market context, the stock's recent performance contrasts with the Sensex, which has shown a slight decline of -0.09% over the past week. While the stock has faced challenges in the short term, its long-term returns have significantly outpaced the benchmark, indicating strong investor confidence. The company's solid fundamentals, including a low debt-to-equity ratio and robust growth metrics, further bolster its position in the market. However, a decline in investor participation, as evidenced by a decrease in delivery volume, may pose a concern for sustained momentum. Overall, the combination of strong historical performance and positive financial indicators contributes to the stock's current rise.