Why is ION Exchange falling/rising?

As of 14-Jul, Ion Exchange (India) Ltd's stock price is rising, currently at 559.45, reflecting an increase of 17.15 or 3.16%. The stock has shown positive momentum, gaining 3.41% over the last two days and outperforming its sector by 2.82%. Despite a year-to-date decline of 14.59% and a one-year drop of 16.52%, the stock has performed well over the last three years, with a remarkable increase of 204.10%. The company exhibits high management efficiency with a return on equity (ROE) of 22.67% and maintains a low debt-to-equity ratio, contributing positively to its valuation. However, the stock is trading at a premium compared to its peers, and despite a recent rise in profits, the overall long-term growth has been poor, which may temper investor enthusiasm.
In the broader market context, Ion Exchange's recent performance contrasts sharply with the benchmark Sensex, which has seen a decline of 1.42% over the past week. While the stock has gained 2.42% in the same period, it has underperformed the market over the past year, where the BSE500 index has generated a slight return of 0.26%. This divergence highlights the stock's recent strength despite its longer-term challenges and underperformance relative to the broader market. The liquidity of the stock remains adequate for trading, although there has been a slight decline in investor participation, which could affect future price movements.