Why is India Motor Part falling/rising?

As of 04-Jul, India Motor Parts & Accessories Ltd is experiencing a price increase, currently at 1,156.35, reflecting a rise of 7.35 (0.64%). The stock opened with a gain of 3.5% today and reached an intraday high of Rs 1189.25. It has outperformed its sector by 8.35% today, and trading volumes have significantly increased, with delivery volume rising by 159.12% against the 5-day average. Despite a year-to-date decline of 6.02%, the stock has shown a positive return of 8.07% over the past month, indicating a recent recovery. The company maintains a low Debt to Equity ratio and an attractive valuation with a Price to Book Value of 0.6, which may contribute to investor confidence despite concerns over long-term growth.
In the broader market context, while the Sensex has seen a slight decline of 0.74% over the past week, India Motor Parts has decreased by 1.58% in the same timeframe, suggesting a relative underperformance recently. However, the stock's positive monthly performance contrasts with the benchmark's 3.01% gain, indicating that investors may be responding favorably to its recent price movements and operational metrics. The company's low domestic mutual fund ownership could reflect caution among institutional investors, but the recent rise in trading volume and positive earnings growth may signal a shift in sentiment among retail investors.