Why is Raymond falling/rising?

As of 30-Jun, Raymond Ltd's stock price is rising, currently at Rs 708.80, reflecting an increase of Rs 84.65 or 13.56%. The stock has shown strong performance today, outperforming its sector by 12.72%, and has gained consecutively over the last two days, with a total return of 19.35% during this period. The stock reached an intraday high of Rs 718.05, indicating significant investor interest. Despite a challenging year with a -75.72% return, the company has demonstrated high management efficiency with a return on equity (ROE) of 25.73% and a very attractive valuation with a price-to-book ratio of 1.3. However, concerns remain regarding the company's ability to service its debt, as indicated by a poor EBIT to interest ratio of 1.85, and long-term growth prospects are hindered by declining net sales and operating profit over the past five years.
In the broader market context, Raymond Ltd's short-term return of +17.55% over the past week significantly outpaces the Sensex's return of +2.09% during the same period. This contrast highlights the stock's recent momentum amid a generally stable market environment. While the stock has struggled over the longer term, with a -57.68% return year-to-date and underperformance against the BSE 500, the recent uptick in price suggests a potential shift in investor sentiment, possibly driven by improved fundamentals and increased institutional interest, as evidenced by a delivery volume increase of 318.91% against the 5-day average.