Why is Voltas falling/rising?

As of 18-Aug, Voltas Ltd. is experiencing a significant rise in its stock price, currently at 1,348.90, reflecting an increase of 77.65 or 6.11%. The stock opened with a gain of 5.65% today and reached an intraday high of Rs 1402.65, which is a 10.34% increase. Over the past week, Voltas has outperformed the benchmark Sensex, with a return of +8.26% compared to the Sensex's +0.83%. However, the stock has shown a decline of 1.93% over the past month and a more substantial drop of 24.63% year-to-date. Despite these declines, the stock's recent performance is buoyed by a strong sector movement, as the Air Conditioners sector gained 6.14%. The company benefits from a low debt-to-equity ratio and high institutional holdings at 54.53%, indicating strong investor confidence. However, recent financial results show a significant drop in profit before tax and profit after tax, which could weigh on future performance.
Broader Market Context: In the broader market context, while Voltas has seen a positive return in the short term, it has underperformed relative to the benchmark over the past year, with a return of -12.06% compared to the BSE500's -1.14%. This underperformance highlights the challenges the company faces despite its recent price increase. The stock's valuation appears expensive with a price-to-book value of 6.9, and although it is trading at a discount compared to its peers, the overall market sentiment remains cautious due to the company's declining profitability metrics. The falling investor participation, indicated by a significant drop in delivery volume, further suggests that while the stock may be rising today, there are underlying concerns that could impact its future trajectory.