Why is Bikaji Foods falling/rising?

As of 23-Jul, Bikaji Foods International Ltd is experiencing a price increase, currently at Rs 788.00, which reflects a rise of Rs 26.0 or 3.41%. The stock has shown strong performance today, outperforming its sector by 3.91% and achieving a consecutive gain over the last two days with a total return of 4.92%. Additionally, the stock has been performing well over the past week and month, with returns of 5.06% and 11.42%, respectively. It is also trading above its moving averages across various time frames, indicating a positive trend. The company benefits from high management efficiency, demonstrated by a return on equity (ROE) of 18.16%, and a low debt-to-equity ratio, which supports its financial stability. Furthermore, the high institutional holdings at 20.01% suggest confidence from knowledgeable investors, contributing to the stock's upward movement.
In the broader market context, Bikaji Foods has significantly outperformed the Sensex over the past week and month, with respective returns of 5.06% compared to the Sensex's 0.11% and 11.42% against 1.01%. However, it is important to note that the stock's year-to-date performance of 1.38% lags behind the Sensex's 5.87%, indicating some volatility in the longer term. Despite a recent drop in investor participation, with delivery volume decreasing by 54.1% against the five-day average, the stock's liquidity remains adequate for trading. Overall, the combination of strong short-term performance, institutional backing, and efficient management contributes to the stock's rising price.