Why is Amkay Products falling/rising?

As of 24-Jun, Amkay Products Ltd is experiencing a significant rise in its stock price, currently at Rs 58.23, reflecting an increase of Rs 8.23 or 16.46%. The stock has shown strong performance today, outperforming its sector by 17.07% and has been on a consecutive gain streak for the last three days, accumulating a total return of 41.64% during this period. It opened with a gain of 3.96% and reached an intraday high of Rs 59.67, indicating robust trading activity. Additionally, the stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, which suggests a positive trend. Notably, there has been a significant increase in investor participation, with delivery volume rising by 320% compared to the 5-day average, contributing to the stock's upward momentum. The positive and negative factors section is unavailable, but the overall indicators suggest a favorable environment for the stock's recent movement.
In the broader market context, Amkay Products has outperformed the benchmark Sensex in the short term, with a 1-week return of +32.64% compared to the Sensex's +0.58%. This stark contrast highlights the stock's strong performance relative to the market. Over the past month, the stock has also shown a substantial return of +30.85%, while the Sensex has only gained +0.41%. However, it is important to note that year-to-date, Amkay Products is down by 6.68%, while the Sensex has increased by 5.01%, indicating a mixed performance over a longer timeframe. Overall, the recent surge in stock price can be attributed to strong short-term gains and increased investor interest, despite its longer-term challenges.