Why is Gravita India falling/rising?

As of 19-Aug, Gravita India Ltd is experiencing a price increase, currently at 1,750.00, reflecting a change of 9.35 or 0.54% upward. The stock has shown a trend reversal, gaining after two consecutive days of decline. However, it is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Despite a recent decline of 1.70% over the past week, the stock has seen a positive performance of 1.16% over the last month. Key positive factors include high management efficiency with a return on capital employed (ROCE) of 20.88%, a low debt to EBITDA ratio of 1.36, and consistent positive results over the last three quarters, with net sales and profit after tax growing significantly. Conversely, the stock's valuation appears expensive with a price to book value of 6.2, and a decrease in promoter stake by 3.39% may indicate reduced confidence in the company's future.
Broader market context reveals that while Gravita India has underperformed the market significantly over the past year, with a return of -26.54% compared to the Sensex's gain of 1.52%, it has shown resilience in the short term with a slight recovery today. The broader market has generated a negative return of -0.91% over the past year, indicating that Gravita's decline is more pronounced than the general market trend. This underperformance, combined with the recent increase in investor participation, suggests that while there are positive indicators for the company, concerns about valuation and promoter confidence continue to weigh on its overall performance.