Why is DDev Plastiks falling/rising?

As of 23-Jul, DDev Plastiks Industries Ltd is experiencing a price increase, with its current price at Rs 323.45, reflecting a rise of Rs 13.95 or 4.51%. The stock has shown a positive trend today, outperforming its sector by 4.82% and reversing a two-day decline. It reached an intraday high of Rs 328.55, indicating strong intraday performance. Over the past week, the stock has gained 2.63%, and over the past month, it has surged by 20.85%. Despite a year-over-year decline of 19.50%, the company has demonstrated healthy long-term growth with an annual operating profit increase of 39.27%. The stock's attractive valuation, with a Price to Book Value of 5.1 and a return on equity of 28.1, supports its recent upward movement, although a significant drop in delivery volume by 52.04% suggests a decrease in investor participation.
In the broader market context, DDev Plastiks has outperformed the Sensex, which has only increased by 0.11% over the past week, while the stock has gained 2.63%. This trend is further highlighted by the stock's performance over the past month, where it has risen 20.85% compared to the Sensex's 1.01% increase. The stock's ability to trade above all key moving averages indicates a strong bullish sentiment, despite the overall market showing modest gains. However, the significant drop in delivery volume could indicate potential caution among investors, which may affect future price movements.