Why is Indef Manufactur falling/rising?

As of 15-Jul, Indef Manufacturing Ltd's stock price is currently at Rs 458.25, reflecting an increase of Rs 23.1 or 5.31%. The stock has shown a trend reversal, gaining after two consecutive days of decline. Today, it outperformed its sector by 4.53%, reaching an intraday high of Rs 458.25. However, the stock's delivery volume has decreased by 22.23% compared to the 5-day average, indicating falling investor participation. While the company has a low debt-to-equity ratio, it faces challenges with poor long-term growth, as net sales have declined at an annual rate of 1.60% over the past five years, and it has a high price-to-book value of 5.8, suggesting an expensive valuation.
In the broader market context, the stock's performance over the past week shows a decline of 7.39%, while the Sensex has only decreased by 1.36%, indicating underperformance relative to the benchmark. However, in the past month, Indef Manufacturing Ltd has outperformed the Sensex, with a return of 2.21% compared to the benchmark's 1.79%. Despite the recent gains, the stock's overall performance over the past year has been flat, generating a return of 0.00%, which may contribute to investor caution.