Why is Olectra Greentec falling/rising?

As of 10-Jul, Olectra Greentech Ltd's stock price is currently at 1,246.55, reflecting an increase of 42.8 points or 3.56%. The stock has shown a positive performance today, outperforming its sector by 3.98%, and reached an intraday high of Rs 1259.95, marking a rise of 4.67%. However, despite this short-term gain, the stock has underperformed over the past year, with a decline of 32.68%, while the company has reported significant growth in net sales and operating profit. The company has also declared positive results for the last three consecutive quarters, indicating strong operational performance, but it faces challenges with a high valuation compared to its peers, as evidenced by a Price to Book Value of 9.8.
In the broader market context, Olectra Greentech's short-term return of 3.03% over the past week contrasts with the Sensex, which has seen a slight decline of 0.06%. While the stock has shown resilience in the short term, its long-term performance remains concerning, particularly given its year-to-date decline of 13.82% against the Sensex's gain of 6.46%. The low participation from domestic mutual funds, holding only 0.46% of the company, may indicate a lack of confidence in the stock's current valuation, further complicating its market position despite its recent price increase.