Why is Orient Electric falling/rising?

As of 29-Aug, Orient Electric Ltd. is experiencing a price increase, currently at Rs 213.95, reflecting a rise of Rs 6.15 or 2.96%. Today's performance indicates a positive trend, as the stock has outperformed its sector by 3.09% and has gained after two consecutive days of decline. The stock reached an intraday high of Rs 216.65, and there has been a significant increase in investor participation, with delivery volume rising by 590.29% compared to the five-day average. Despite a year-to-date decline of 7.80% and a one-year return of -20.18%, the company has shown a profit increase of 56.6%, suggesting a potential for recovery. The stock is trading at a discount compared to its peers, supported by high management efficiency and low debt levels, which may positively influence investor sentiment.
In the broader market context, Orient Electric's short-term performance has been relatively better than the benchmark, with a slight decline of 0.26% over the past week compared to a 1.84% drop in the Sensex. However, the stock has consistently underperformed against the benchmark over the longer term, particularly in the last three years, where it has generated -20.18% returns. This underperformance, coupled with flat results in recent quarters, raises concerns about the company's long-term growth potential. Nonetheless, the high institutional holdings at 35.05% may provide some stability and confidence among investors, as these entities typically have better resources to analyze the company's fundamentals.