Why is Rajoo Engineers falling/rising?

As of 18-Jul, Rajoo Engineers Ltd's stock price is currently at Rs 136.60, reflecting an increase of Rs 6.5 or 5.0%. The stock has shown a positive trend today, gaining after two consecutive days of decline and outperforming its sector by 5.5%. Over the past week, the stock has risen by 10.16%, while it has increased by 15.03% over the past month. Despite these short-term gains, the stock has experienced a significant decline of 41.97% year-to-date and 29.56% over the past year. The company has reported strong financial performance, with a 168.91% growth in net profit and positive results for the last nine consecutive quarters, contributing to a healthy long-term growth outlook. However, the stock is considered expensive with a high Price to Book Value ratio of 13.7, and it has underperformed the market over the last year.
In the broader market context, while the Sensex has shown a slight increase of 0.38% over the past month, Rajoo Engineers has significantly outperformed this benchmark, indicating a divergence in performance. The stock's recent rise contrasts with the broader market's performance, as the BSE500 index has generated negative returns of -0.36% over the past year, highlighting the stock's struggles despite its strong profit growth. The falling investor participation, as indicated by a 16.51% decrease in delivery volume, may suggest caution among investors, which could impact future price movements. Overall, while the stock is currently rising, its long-term performance remains under scrutiny due to its historical underperformance relative to the market.