Why is ION Exchange falling/rising?

As of 30-Jul, Ion Exchange (India) Ltd is experiencing a price increase, with the current price at Rs 479.00, reflecting a rise of Rs 19.00 or 4.13%. Today's performance indicates a trend reversal as the stock has gained after nine consecutive days of decline, outperforming its sector by 3.42%. Despite this positive movement, the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, and there has been a significant drop in investor participation, with delivery volume falling by 66.04% compared to the 5-day average. Over the past year, the stock has underperformed the market, showing a return of -32.40%, while its profits have increased by 6%, suggesting a fair valuation relative to peers.
In the broader market context, the stock's short-term return over the past week is -1.61%, which is slightly worse than the benchmark Sensex's decline of -1.50%. This indicates that while the stock is currently rising, it has struggled in the longer term, with a year-to-date return of -26.87% compared to the Sensex's positive return of +4.28%. The company's high management efficiency, indicated by a return on equity (ROE) of 22.67% and a low debt-to-equity ratio, suggests potential for recovery. However, concerns about poor long-term growth, as evidenced by low annual growth rates in net sales and operating profit, along with negative results in the last half-year, continue to weigh on investor sentiment.