Why is Anik Industries falling/rising?

As of 02-Jul, Anik Industries Ltd is experiencing a price increase, currently at Rs 115.95, reflecting a rise of Rs 3.45 or 3.07%. The stock has shown strong performance today, outperforming its sector by 2.79% and has been on a consecutive gain streak for the last two days, accumulating a total return of 8.47% 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 positive trend. The company has reported positive results over the last three consecutive quarters, with a higher profit after tax and net sales, contributing to investor confidence and the stock's upward movement.
In the broader market context, Anik Industries has significantly outperformed the benchmark, with a one-year return of 126.02% compared to the BSE500's return of only 3.11%. This substantial outperformance highlights the stock's strong market position and investor interest, particularly as the stock has also seen a notable increase in delivery volume, up by 283.14% against the 5-day average. Overall, the combination of positive financial results, strong recent performance, and rising investor participation has contributed to the stock's upward trajectory in the market.