Why is Indef Manufactur falling/rising?

As of 23-Jun, Indef Manufacturing Ltd's stock price is currently at 426.15, reflecting an increase of 22.55 or 5.59%. The stock has been on an upward trajectory, gaining for the last three days with a total return of 6.17% during this period. It opened today with a gain of 2.76% and reached an intraday high of Rs 443.95, which is a 10% increase. Despite this positive movement, the stock has experienced a decline of 3.77% over the past week, although it has shown a remarkable increase of 85.12% over the past month. The company's low debt-to-equity ratio is a positive factor, but concerns about poor long-term growth, as evidenced by a -1.60% annual rate of net sales growth over the last five years, may weigh on investor sentiment.
In the broader market context, the stock has outperformed its sector by 4.24% today, while the benchmark Sensex has only increased by 0.12% over the past week and 0.22% over the past month. This indicates that Indef Manufacturing Ltd is gaining traction relative to the market. However, the stock's performance is juxtaposed with a significant drop in delivery volume, which fell by 74.64% against the five-day average, suggesting a potential decline in investor participation. Additionally, despite the stock's recent gains, it has generated a return of 0.00% over the past year, raising concerns about its valuation, which is considered very expensive with a price-to-book value of 5.4.