Why is Ajax Engineering falling/rising?

As of 15-Jul, Ajax Engineering Ltd's stock price is rising, currently at Rs 690.05, reflecting an increase of Rs 10.05 or 1.48%. The stock has shown a positive trend today, outperforming its sector by 0.7% and reversing a previous three-day decline. It reached an intraday high of Rs 697.75, marking a 2.61% increase. Additionally, Ajax Engineering is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating strong upward momentum. The stock has also experienced a significant rise in investor participation, with a delivery volume of 4.43 lacs on July 14, which is up by 246.95% compared to the 5-day average.
In the broader market context, Ajax Engineering's short-term performance has been notably strong, with a 1-week return of +0.81%, contrasting with a decline of -1.36% in the Sensex during the same period. Over the past month, the stock has gained +13.64%, significantly outperforming the Sensex's +1.79% return. This indicates that while the overall market has faced challenges, Ajax Engineering has managed to attract investor interest and maintain a positive trajectory, contributing to its rising stock price.