Why is Rishabh Instrum. falling/rising?

As of 03-Sep, Rishabh Instruments Ltd is experiencing a price increase, currently at Rs. 447.90, reflecting a rise of 10.35 or 2.37%. The stock has recently hit a new 52-week high of Rs. 457.90 and has outperformed its sector by 1.67%. Over the past week, the stock has gained 9.11%, and in the last month, it has surged by 55.93%. Despite a slight decline in investor participation, with delivery volume falling by 22.3% against the 5-day average, the company has reported very positive financial results, including a net profit growth of 222.17% and a significant increase in profit before tax and profit after tax. However, the company faces challenges with low management efficiency, as indicated by a low return on equity of 3.69% and a high price-to-book value ratio of 2.8, which may contribute to concerns about its long-term growth potential.
In the broader market context, Rishabh Instruments Ltd has significantly outperformed the benchmark index, the Sensex, which has seen a decline of 0.27% over the past week. While the stock has generated a return of 20.57% over the past year, the Sensex has dropped by 2.41%, highlighting the stock's strong market-beating performance despite the overall market's negative trend. This contrast suggests that investor sentiment towards Rishabh Instruments remains positive, driven by its robust financial results and growth prospects, even as institutional investors have slightly reduced their stakes in the company.