Why is Garware Tech falling/rising?

As of 30-Jun, Garware Technical Fibres Ltd is experiencing a price increase, currently at Rs 926.60, reflecting a rise of Rs 18.7 or 2.06%. The stock has shown strong performance today, outperforming its sector by 1.22% and reaching an intraday high of Rs 935, which is a 2.98% increase. Over the past week, Garware Tech has returned 7.17%, significantly higher than the Sensex's 2.09% gain. The company benefits from high management efficiency, evidenced by a return on equity (ROE) of 17.80% and a low debt-to-equity ratio of 0.02 times. However, there are concerns regarding long-term growth, as net sales and operating profit have only grown at annual rates of 10.07% and 12.91%, respectively, over the last five years.
In the broader market context, Garware Tech's recent performance has outpaced the benchmark index, with a one-year return of 20.21% compared to the Sensex's 5.79%. Despite this positive short-term performance, the stock is trading at a premium valuation, with a price-to-book ratio of 7.4, which may deter some investors. Additionally, the delivery volume has decreased significantly, indicating a potential decline in investor participation. Nevertheless, the high institutional holdings at 20.78% suggest that knowledgeable investors are backing the stock, which could provide some stability amid concerns about its valuation and growth prospects.