Why is ION Exchange falling/rising?

As of 30-Jun, Ion Exchange (India) Ltd is experiencing a rise in its stock price, currently at 544.80, reflecting an increase of 10.8 or 2.02%. The stock has been gaining for the last two days, with a total return of 2.37% during this period. It outperformed its sector by 0.85% today and reached an intraday high of Rs 545.9. Despite a year-to-date decline of 16.82%, the stock has shown a strong performance over the last three years, with a return of 210.56%. The company benefits from high management efficiency, as indicated by a return on equity (ROE) of 22.67%, and maintains a low debt-to-equity ratio, which supports its fair valuation compared to peers. However, the stock's recent performance is tempered by a significant drop in investor participation, with delivery volume falling by 58.38% against the five-day average.
In the broader market context, Ion Exchange's short-term return of 4.04% over the past week outperformed the benchmark Sensex, which gained 2.09% in the same period. While the stock's performance has been lackluster over the past year, with a decline of 5.27%, it has managed to maintain a positive trajectory recently, suggesting a potential recovery phase. The company's profits have risen by 6% despite the stock's negative returns, indicating underlying operational strength. However, concerns about long-term growth persist, as evidenced by slower growth rates in net sales and operating profit over the last five years, which may affect investor sentiment moving forward.