Why is Ambuja Cements falling/rising?

As of 15-Jul, Ambuja Cements Ltd is experiencing a price increase, currently at 593.40, reflecting a rise of 2.9 (0.49%). The stock has shown a positive performance today, outperforming its sector by 0.44% and has been on a consecutive gain streak for the last three days, accumulating a total return of 1.41% during this period. Additionally, the stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong upward trend. Despite a recent decline in delivery volume by 6.23% against the 5-day average, the company has reported positive financial results, including a higher PAT of Rs 2,974.52 crore and record net sales of Rs 9,888.61 crore, supported by a low debt-to-equity ratio and high institutional holdings at 25.91%.
In the broader market context, Ambuja Cements has outperformed the Sensex over the past week, with a return of +0.58% compared to the benchmark's -1.36%. Over the past month, the stock has also significantly outperformed the Sensex, gaining 9.23% while the benchmark rose only 1.79%. This strong performance, coupled with the company's solid financial fundamentals and institutional backing, suggests that investor confidence remains high despite the recent drop in delivery volume. Overall, the stock's recent upward movement can be attributed to its strong financial results and favorable comparisons to the broader market.