Why is Dynamic Cables falling/rising?

As of 04-Jul, Dynamic Cables Ltd is experiencing a price increase, currently at Rs 983.85, reflecting a rise of Rs 33.85 or 3.56%. The stock has shown strong performance today, outperforming its sector by 3.59% and achieving a consecutive gain over the last two days with a total return of 9.77% during this period. The stock reached an intraday high of Rs 994, and it is trading above all key moving averages, indicating positive momentum. Additionally, the company has demonstrated robust financial health, with a low Debt to EBITDA ratio of 0.70 times and a significant net profit growth of 71.1%, contributing to its attractive valuation. Despite these strengths, the lack of domestic mutual fund investment may raise concerns about broader market confidence in the stock.
In the broader market context, Dynamic Cables has outperformed the Sensex significantly over the past week, with a return of 9.87% compared to the benchmark's decline of 0.74%. While the stock has generated a return of 67.21% over the past year, the Sensex has only increased by 4.23%, showcasing the stock's strong relative performance. This positive trend is further supported by rising investor participation, as evidenced by a 138.27% increase in delivery volume compared to the five-day average. Overall, the stock's recent upward movement can be attributed to its strong financial results and favorable trading conditions, despite some caution from institutional investors.