Why is Chennai Ferrous falling/rising?

As of 24-Sep, Chennai Ferrous Industries Ltd is experiencing a price increase, with the current price at Rs 138.50, reflecting a rise of Rs 2.65 or 1.95%. The stock opened with a gain of 2.98% today and reached an intraday high of Rs 140, indicating strong performance. Additionally, the stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, which suggests positive momentum. The company has shown high management efficiency with a return on equity (ROE) of 21.36% and a low debt-to-equity ratio, contributing to its healthy long-term growth. Furthermore, the company has reported positive results for the last five consecutive quarters, with net sales growing at an annual rate of 194.12%. However, it is important to note that despite the recent positive performance, the stock has generated a return of -16.99% over the past year, indicating some underlying challenges.
In the broader market context, Chennai Ferrous has underperformed the benchmark Sensex over the past week, with a decline of 1.77% compared to the Sensex's drop of 1.18%. However, the stock has outperformed the sector today by 2.08%, reflecting a positive sentiment among investors. The rising investor participation, as evidenced by a 13.95% increase in delivery volume, also supports the stock's upward movement. While the stock has faced challenges in the longer term, its recent performance and strong fundamentals may be attracting investor interest, contributing to the current rise in price.