Why is SignatureGlobal falling/rising?

As of 24-Oct, SignatureGlobal India Ltd's stock price is currently at Rs 1,100.90, reflecting an increase of Rs 36.75 or 3.45%. Today's performance indicates that the stock has outperformed its sector by 3.32%, reaching an intraday high of Rs 1,116, which is a 4.87% increase. Despite this positive movement, the stock has shown a decline of 21.74% over the past year and has underperformed against the BSE500 index in both the short and long term. The company has demonstrated strong growth in net sales and operating profit, with net sales growing at an annual rate of 58.64% and operating profit at 61.03%. However, the stock's high valuation, indicated by a Price to Book Value of 21.3 and a low return on equity of 13.9, raises concerns among investors.
In the broader market context, SignatureGlobal's short-term return of 2.85% over the past week significantly outpaces the Sensex's return of 0.31% during the same period. However, the stock's year-to-date performance shows a stark contrast, with a decline of 18.70% compared to the Sensex's increase of 7.77%. The falling investor participation, as evidenced by a 32.98% drop in delivery volume, suggests a cautious sentiment among traders, which may be contributing to the stock's volatility despite its recent gains. Overall, while the company has reported positive financial results, its high valuation and underperformance in the long term may be causing investors to remain skeptical.