Why is Akar Auto Indust falling/rising?

As of 08-Jul, Akar Auto Industries Ltd is experiencing a slight increase in its stock price, currently at Rs 164.80, reflecting a change of 0.35 (0.21%) upward. The stock has been gaining for the last two days, with a return of 3.39% during this period. It is currently trading close to its 52-week high, just 4.19% away from Rs 171.7. Over the past month, the stock has shown a remarkable increase of 52.59%, significantly outperforming the Sensex, which only rose by 1.85%. Despite this positive performance, there has been a notable decline in investor participation, with delivery volume dropping by 54.62% compared to the five-day average. The stock is also trading above its moving averages across various time frames, indicating a strong upward trend. The company's attractive valuation, with a return on capital employed (ROCE) of 18.5 and a PEG ratio of 1.9, further supports its recent price movement.
In the broader market context, Akar Auto Industries Ltd's short-term performance has been positive, as it has outperformed the Sensex over the last week, where the stock fell by 0.06% compared to the benchmark's slight gain of 0.02%. The stock's long-term performance is also impressive, with a 215.41% increase over the past three years, significantly higher than the Sensex's 53.65% rise in the same period. This consistent outperformance indicates strong market confidence in Akar Auto Industries Ltd, despite the recent drop in trading volume, suggesting that the stock remains a favorable investment compared to its peers.