Why is ION Exchange falling/rising?

As of 16-Jul, Ion Exchange (India) Ltd is experiencing a price increase, currently at Rs 568.75, reflecting a rise of 9.85 or 1.76%. The stock has outperformed its sector by 0.45% today and reached an intraday high of Rs 578.15, marking a 3.44% increase. Over the past week, the stock has shown a return of +4.37%, while its performance over the past month stands at +5.01%. However, it is important to note that the stock has underperformed in the long term, with a year-to-date return of -13.17% and a one-year return of -12.05%. The company boasts high management efficiency with a return on equity (ROE) of 22.67% and maintains a low debt-to-equity ratio. Despite these positives, the stock faces challenges such as poor long-term growth and a high price-to-book value ratio, which may contribute to its mixed performance.
In the broader market context, the stock's recent short-term gains contrast with the benchmark Sensex, which has declined by 1.08% over the past week. While Ion Exchange has shown resilience in the short term, its long-term performance remains concerning, especially as it has underperformed the market over the last year, generating negative returns while the broader market has yielded a positive return of 0.47%. This divergence highlights the stock's volatility and the potential impact of broader market conditions on its price movements.