Why is Bajel Projects falling/rising?

As of 09-Jul, Bajel Projects Ltd is experiencing a price increase, currently at 251.20, reflecting a rise of 10.3 or 4.28%. Today's price summary indicates that the stock has outperformed its sector by 3.96% and has shown a trend reversal after two consecutive days of decline. It opened with a gain of 2.91% and reached an intraday high of Rs 252.35, while trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. However, there is a notable decline in investor participation, with delivery volume dropping by 82.62% compared to the 5-day average. Despite a year-to-date decline of 8.25%, the stock has shown a strong short-term performance, gaining 12.67% over the past month.
In the broader market context, Bajel Projects' recent performance contrasts sharply with the Sensex, which has only increased by 1.32% over the same one-month period. This suggests that the stock is gaining traction relative to the overall market. The company's low debt-to-equity ratio and impressive long-term growth rates in net sales and operating profit contribute positively to investor sentiment, supporting the recent price rise. The majority ownership by promoters may also instill confidence among investors, although the significant drop in delivery volume could indicate caution among some market participants.