Why is Bikaji Foods falling/rising?

As of 22-Jul, Bikaji Foods International Ltd is experiencing a rise in its stock price, currently at Rs 762.00, reflecting an increase of Rs 10.95 or 1.46%. The stock has shown strong performance recently, with a 5.10% increase over the past week and a 7.63% increase over the past month, significantly outperforming the Sensex, which has seen declines of 0.47% and 0.27% respectively during the same periods. Additionally, the stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive trend. However, it is important to note that there has been a significant drop in investor participation, with delivery volume falling by 78.32% compared to the 5-day average. The company benefits from high management efficiency, evidenced by a return on equity (ROE) of 18.16%, a low debt-to-equity ratio, and substantial institutional holdings at 20.01%, which may contribute to investor confidence.
In the broader market context, Bikaji Foods has outperformed the benchmark Sensex in the short term, particularly over the past week and month, while the Sensex has shown negative returns. Despite a year-to-date decline of 1.96% for Bikaji Foods, its one-year return of 7.42% surpasses the Sensex's 2.09%, suggesting that the stock has been more resilient compared to the overall market. This relative strength, combined with the company's solid fundamentals, may be attracting investors, even as liquidity concerns arise from decreased trading volumes.