Why is Alfa Ica (I) falling/rising?

As of 15-Jul, Alfa Ica (India) Ltd's stock price is currently at 96.53, reflecting an increase of 4.26 or 4.62%. Today's performance indicates a positive trend, as the stock has gained after two consecutive days of decline and opened with a significant gap up of 6.81%. It reached an intraday high of Rs 98.55. Over the past week, the stock has shown a slight increase of 0.03%, while it has outperformed the benchmark Sensex over the last month with a return of 22.11% compared to the Sensex's 1.79%. Despite a decline in delivery volume by 34.32% against the 5-day average, the stock's strong financial metrics, including the highest net sales and operating profit margins, suggest a solid performance. However, it is important to note that profits have decreased by 14.8% over the past year, which may temper investor enthusiasm.
In the broader market context, the stock's recent performance contrasts with the Sensex, which has declined by 1.36% over the past week. While Alfa Ica has demonstrated strong long-term returns, outperforming the BSE500 over various periods, the current market conditions reflect a mixed sentiment. The stock's attractive valuation, trading at a discount compared to peers, and the majority ownership by promoters may provide some stability and confidence among investors. Overall, the stock's recent rise can be attributed to its strong quarterly performance and positive market sentiment, despite the backdrop of declining profits and reduced investor participation.