Why is Pennar Industrie falling/rising?

As of 03-Jul, Pennar Industries Ltd is experiencing a price increase, currently at Rs 233.25, reflecting a rise of 2.65 or 1.15%. The stock has shown positive momentum, gaining for the last two consecutive days with a total return of 1.48% during this period. It outperformed its sector by 1.57% today and reached an intraday high of Rs 236.55. Despite a recent decline in delivery volume by 45.16% against the 5-day average, the company has demonstrated strong financial performance over the last four quarters, with a return on capital employed (ROCE) at its highest level of 15.35% and a significant increase in cash reserves. The stock is trading at a discount compared to its peers, which may contribute to its recent upward movement.
In the broader market context, Pennar Industries has outperformed the benchmark Sensex over the past year, generating a return of 35.65% compared to the Sensex's 4.07%. However, in the short term, the stock has slightly underperformed the benchmark with a 1-week return of -0.32% against the Sensex's -0.62%. Despite this, the stock's long-term performance remains robust, with a remarkable 531.26% increase over the past three years, indicating strong investor confidence and consistent returns that have outpaced broader market indices.