Why is ION Exchange falling/rising?

As of 07-Jul, Ion Exchange (India) Ltd is currently priced at 546.25, reflecting an increase of 3.6 or 0.66%. The stock has shown a trend reversal, gaining after two consecutive days of decline. It has outperformed its sector by 0.91% today. However, despite this short-term gain, the stock has underperformed over the past year, with a return of -16.37%, while its profits have risen by 6%. The company exhibits high management efficiency with a return on equity (ROE) of 22.67% and a low debt-to-equity ratio, but it is trading at a premium compared to its peers. The recent decline in investor participation, evidenced by a significant drop in delivery volume, may also be contributing to the stock's volatility.
In the broader market context, the stock's short-term performance has been relatively better than the benchmark, as it gained 0.27% over the past week while the Sensex fell by 0.20%. However, the stock has lagged behind the market in the longer term, with a year-to-date return of -16.60% compared to the Sensex's gain of 6.79%. This underperformance, coupled with negative financial results reported in March, including declines in profit before tax and profit after tax, suggests that while there may be short-term gains, the long-term outlook remains concerning, impacting investor sentiment and overall stock performance.