Why is Garware Tech falling/rising?

As of 08-Jul, Garware Technical Fibres Ltd's stock price is rising, currently at Rs 922.10, reflecting an increase of Rs 17.75 or 1.96%. The stock has shown a mixed performance recently, with a slight decline of 0.29% over the past week, but a positive return of 1.80% over the last month. Today's trading saw the stock reach an intraday high of Rs 951.15, indicating strong intraday momentum. However, there has been a notable drop in investor participation, with delivery volume decreasing by 56.44% compared to the 5-day average. The stock is trading above its moving averages, suggesting a bullish trend, while high management efficiency and strong institutional holdings support its positive outlook. Despite these strengths, concerns about long-term growth and high valuation metrics, such as a Price to Book Value of 7.4, may temper enthusiasm.
In the broader market context, the stock's performance has been relatively stable compared to the benchmark, with a year-to-date decline of 3.14% against the Sensex's gain of 7.13%. While Garware Tech has outperformed the market over the past year with a return of 16.09%, the recent short-term performance does not align with the benchmark's slight increase of 0.02% over the past week. This divergence highlights the stock's volatility and the potential impact of broader market trends on its price movements. Overall, while Garware Technical Fibres Ltd shows promising fundamentals, the recent decline in trading volume and concerns about valuation may influence investor sentiment.