Why is Dolphin Offshore falling/rising?

As of 03-Nov, Dolphin Offshore Enterprises (India) Ltd is experiencing a significant rise in its stock price, currently at Rs 439.20, reflecting an increase of Rs 73.2 or 20.0%. The stock has shown strong performance today, outperforming its sector by 19.66% and opening with a gain of 8.74%. It reached an intraday high of Rs 439.20 and has been trading above its moving averages across various time frames. Additionally, there has been a notable increase in investor participation, with delivery volume rising by 105.83% compared to the 5-day average. The company has demonstrated robust financial health, with a low Debt to EBITDA ratio of 0.98 times and impressive growth in net sales and operating profit over recent quarters, contributing positively to investor sentiment.
In the broader market context, Dolphin Offshore's short-term return over the past week is +15.02%, significantly outperforming the benchmark Sensex, which has declined by 0.94% during the same period. While the stock has faced challenges year-to-date and over the past year, its recent performance indicates a positive shift, driven by strong fundamentals and market interest. The company's consistent positive results over the last six quarters further bolster confidence among investors, suggesting a potential turnaround despite its previous underperformance relative to the market.