Why is Azad Engineering falling/rising?

As of 04-Aug, Azad Engineering Ltd's stock price is currently at 1,500.55, reflecting an increase of 49.75 or 3.43%. The stock has shown a positive trend today, gaining after two consecutive days of decline, and has outperformed its sector by 1.21%. It reached an intraday high of Rs 1512.1, marking a rise of 4.23%. However, despite today's gains, the stock has underperformed over the past month, down 8.80%, and year-to-date, it has decreased by 12.87%. The company has demonstrated strong fundamentals, with a low debt-to-equity ratio and consistent positive results over the last six quarters, including record net sales and profit figures, which contribute to a healthy long-term growth outlook.
In the broader market context, Azad Engineering's short-term performance of +0.37% over the past week contrasts with the Sensex's modest gain of +0.16%, indicating a relative strength in the stock compared to the overall market. The auto ancillary sector, in which Azad operates, has also seen a gain of 2.19%, suggesting a supportive environment for the stock. Despite the recent price increase, the stock remains below its moving averages, indicating potential challenges ahead. Overall, the combination of positive company performance and sector support has contributed to today's rise, even as the stock faces longer-term pressures.