Why is Grindwell Norton falling/rising?

As of 17-Jul, Grindwell Norton Ltd. is experiencing a rise in its stock price, currently at 1,813.00, reflecting an increase of 38.0 points or 2.14%. The stock has shown a positive performance today, outperforming its sector by 1.61%, and has been on a consecutive gain streak for the last four days, accumulating a total return of 5.47% during this period. Despite this upward movement, the stock's performance over the past year has been poor, with a return of -32.55%. The company exhibits high management efficiency with a return on equity (ROE) of 18.29% and a low debt-to-equity ratio, which are positive indicators. However, the stock is considered expensive with a price-to-book value of 8.9, and its long-term growth prospects appear weak, as evidenced by a modest annual growth rate in net sales and operating profit over the last five years.
In the broader market context, Grindwell Norton has outperformed the Sensex in the short term, with a 1-week return of +4.11% compared to the benchmark's -1.12%. However, the stock has underperformed the Sensex year-to-date, with a return of -5.74% against the benchmark's +5.27%. The declining investor participation, as indicated by a 16.79% drop in delivery volume, may suggest a lack of confidence among retail investors despite the stock's recent gains. Overall, while the stock is currently rising, its long-term performance and valuation concerns may weigh on investor sentiment moving forward.