Why is DEE Development falling/rising?

As of 23-Jun, DEE Development Engineers Ltd is experiencing a price increase, currently at Rs 318.70, which reflects a rise of 10.45 or 3.39%. The stock has shown strong performance today, outperforming its sector by 2.04% and achieving a consecutive gain over the last two days with a total return of 10.49%. It reached an intraday high of Rs 327.5, and is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Additionally, there has been a significant increase in investor participation, with delivery volume rising by 187.86% against the 5-day average. The company has demonstrated healthy long-term growth, with operating profit increasing at an annual rate of 53.79% and net sales reaching their highest at Rs 286.37 crore, contributing positively to the stock's recent upward movement.
In the broader market context, DEE Development's stock has outperformed the benchmark Sensex over the past week, with a return of +12.95% compared to the Sensex's +0.12%. Over the past month, the stock has also significantly outperformed the benchmark, achieving a return of +33.65% against the Sensex's +0.22%. The increase in institutional investor participation, with a 0.73% rise in their stake, further supports the stock's positive momentum, as these investors typically have better resources to analyze company fundamentals. Overall, the combination of strong financial performance, rising investor interest, and substantial short-term gains relative to the benchmark contributes to the stock's rising price.