Why is Airan falling/rising?

As of 30-Jun, Airan Ltd's stock price is currently at Rs 31.67, reflecting an increase of Rs 1.73, or 5.78%. The stock has shown strong performance recently, with a 9.17% increase over the past week and a 17.91% rise over the past month, significantly outperforming the Sensex, which increased by only 2.09% and 2.65% in the same periods, respectively. Today's trading saw the stock reach an intraday high of Rs 32.2, and it is currently trading above all key moving averages, indicating positive momentum. However, there has been a decline in investor participation, with delivery volume falling by 28.43% against the 5-day average, which could be a concern for future price stability. The company maintains a low debt-to-equity ratio and has shown a fair valuation compared to peers, with a return on equity of 12.8% and a PEG ratio of 0.5, suggesting that the stock is reasonably priced relative to its growth prospects.
In the broader market context, Airan's short-term performance has been notably stronger than the benchmark, as evidenced by its significant gains compared to the Sensex. While the stock has generated a modest 1.87% return over the past year, it has faced challenges with poor long-term growth metrics, including a decline in profit before tax and net sales in the most recent quarter. Despite these negative factors, the recent rise in stock price can be attributed to its strong short-term performance and favorable valuation metrics, which may attract investors looking for growth opportunities. However, the declining sales growth and operating profit over the last five years could pose risks to sustained upward movement in the stock price.