Why is Timken India falling/rising?

As of 22-Jul, Timken India Ltd's stock price is currently at 3,507.05, reflecting an increase of 21.75, or 0.62%. The stock has been gaining momentum recently, having outperformed its sector by 0.59% today and achieving a consecutive gain over the last two days with a total return of 2.46%. In terms of performance, the stock has shown a positive trend over the past week and month, with returns of +3.67% and +6.27%, respectively. However, there is a notable decline in investor participation, as the delivery volume has decreased by 35.62% compared to the 5-day average. Despite this, the company demonstrates strong fundamentals, including high management efficiency with a return on equity (ROE) of 15.97%, low debt-to-equity ratio, and significant growth in net sales and operating profit for the latest quarter.
Broader market context indicates that while Timken India has performed well in the short term, it has consistently underperformed against the benchmark over the last three years, with a one-year return of -9.61% compared to the Sensex's positive return of 2.09%. This underperformance is coupled with a high valuation, as indicated by its price-to-book value ratio of 10.9, which suggests that the stock may be considered expensive relative to its peers. Despite the positive short-term performance and institutional backing, the long-term growth concerns and the stock's historical underperformance against broader market indices may contribute to a cautious outlook among investors.