Why is Ambuja Cements falling/rising?

As of 21-Jul, Ambuja Cements Ltd is experiencing a price increase, currently at Rs 613.50, reflecting a rise of Rs 17.5 or 2.94%. The stock has shown strong performance recently, outperforming its sector by 1.97% today and has been on a consecutive gain streak for the last two days, accumulating a total return of 3.39% in this period. Additionally, the stock has performed well over the past week and month, with returns of +3.90% and +15.00%, respectively, while also trading above its moving averages across various time frames. Positive financial results, including a higher PAT of Rs 2,974.52 crore and record net sales of Rs 9,888.61 crore, alongside a low debt-to-equity ratio and high institutional holdings at 25.91%, further support the stock's upward movement.
In the broader market context, while the Sensex has shown a slight decline of 0.06% over the past week and 0.25% over the past month, Ambuja Cements has managed to rise significantly, indicating a strong relative performance against the benchmark. The stock's year-to-date return of +14.57% also contrasts with the Sensex's +5.20%, showcasing its resilience and attractiveness to investors despite a challenging market environment. However, it is worth noting that there has been a decline in investor participation, with delivery volume decreasing by 5.23% against the five-day average, which could be a point of concern moving forward.