Why is Bharat Forge falling/rising?

As of 23-Oct, Bharat Forge Ltd. is experiencing a price increase, currently at Rs 1,300.55, which reflects a rise of Rs 56.95 or 4.58%. Today, the stock outperformed its sector by 1.82%, reaching an intraday high of Rs 1,311, marking a 5.42% increase. The stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong upward trend. Despite a year-over-year decline of 7.57%, the stock has shown positive short-term performance with a 1-week return of 2.81% and a 1-month return of 4.05%. The company's healthy long-term growth, with an operating profit growth rate of 65.12%, and a fair valuation compared to peers contribute positively to its recent price movement. However, a notable decline in delivery volume by 87.28% against the 5-day average may raise concerns about investor participation.
In the broader market context, Bharat Forge's short-term performance has outpaced the benchmark Sensex, which has risen by 1.30% over the same week. The stock's strong institutional holdings at 45.88% suggest confidence from larger investors, who typically have more resources to analyze the company's fundamentals. Additionally, Bharat Forge's significant market capitalization of Rs 59,570 crore and its dominance in the sector, constituting 43.54% of the entire industry, further support its stock price resilience. However, the stock's year-to-date return of just 0.26% compared to the Sensex's 8.21% indicates that while it is currently rising, it has struggled to keep pace with the broader market over a longer period.