Why is Onward Technolog falling/rising?

As of 18-Jul, Onward Technologies Ltd's stock price is currently at 359.80, reflecting a decrease of 7.3 points or 1.99%. The stock has been underperforming recently, having fallen consecutively for the last two days with a total decline of 3.94%. Despite this short-term downturn, the stock has shown positive performance over the past week and month, with returns of 6.14% and 18.36%, respectively. The company has reported strong financial results, including record net sales and operating profit margins, which contribute to its attractive valuation. However, it has also underperformed the market significantly over the past year, with a return of -24.10%, indicating a more substantial decline compared to the broader market.
In the broader market context, while the Sensex has shown a slight decline of 0.90% over the past week, Onward Technologies has managed to outperform it during the same period. The stock's liquidity appears adequate, and there has been a notable increase in investor participation, suggesting some underlying interest despite the recent price drop. Promoter confidence is also on the rise, with an increase in their stake, which may provide some reassurance to investors about the company's future prospects. However, the significant underperformance over the last year remains a concern, overshadowing the positive developments in the company's fundamentals.