Why is Balu Forge falling/rising?

As of 15-Jul, Balu Forge Industries Ltd is experiencing a price increase, currently at Rs 682.55, reflecting a rise of 7.55 (1.12%). The stock has shown positive momentum, gaining for the last two days with a total return of 2.33% during this period. It has outperformed its sector by 0.55% today and reached an intraday high of Rs 700, which is a 3.7% increase. Additionally, Balu Forge is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. The company has demonstrated strong financial health with a low debt-to-equity ratio and consistent growth in net sales and operating profit, contributing to its positive performance over the past year and three years.
In the broader market context, Balu Forge's short-term return of +0.12% over the past week contrasts with the Sensex's decline of -1.36%, indicating that the stock is performing well relative to the market. While the stock has underperformed year-to-date with a -13.79% return compared to the Sensex's +5.67%, its impressive one-year return of +64.35% highlights its strong long-term performance. The rising investor participation, evidenced by a 22.66% increase in delivery volume, further supports the stock's upward movement, suggesting growing confidence among investors despite the broader market challenges.