Why is Ashoka Buildcon falling/rising?

As of 31-Oct, Ashoka Buildcon Ltd. is experiencing a price increase, currently at Rs 205.70, reflecting a rise of Rs 8.9 or 4.52%. The stock has shown strong performance recently, gaining 7.39% over the last three days and outperforming its sector by 4.82% today. It reached an intraday high of Rs 207.75, and trading volumes have increased significantly, with a delivery volume rise of 117.74% compared to the five-day average. The stock is also trading above all key moving averages, indicating positive momentum. Despite a year-to-date decline of 33.92%, the company has shown impressive financial metrics, including a high return on capital employed (ROCE) of 30.91% and consistent profit growth, which supports a positive outlook for the stock.
In the broader market context, Ashoka Buildcon's short-term performance contrasts with the Sensex, which has seen a slight decline of 0.32% over the past week. While the stock has underperformed the benchmark over the year, its recent gains suggest a recovery phase, bolstered by strong institutional holdings at 21.51% and a favorable valuation compared to peers. The company's ability to maintain positive results over the last six quarters and a low debt-equity ratio further enhances investor confidence, contributing to the stock's upward movement despite its longer-term challenges.