Why is Eveready Inds. falling/rising?

As of 24-Jul, Eveready Industries India Ltd is experiencing a price increase, currently at Rs 431.80, reflecting a rise of Rs 11.75 or 2.8%. The stock has shown strong performance, gaining 16.67% over the past week and 35.34% over the last month, significantly outperforming the Sensex, which has seen a slight decline of 0.09% in the same week. The stock has been on a consecutive gain streak for the last six days, accumulating a total return of 16.73% during this period. Additionally, it has reached an intraday high of Rs 436.95 and is trading above all key moving averages, indicating a bullish trend. The increase in delivery volume by 19.71% compared to the five-day average further suggests rising investor interest and participation.
In the broader market context, while the Sensex has shown minimal growth of 0.16% over the past month, Eveready Industries has significantly outperformed this benchmark, highlighting its strong market position. The company's consistent positive financial results over the last eight quarters, including a 42.89% growth in profit after tax, and a high return on capital employed (ROCE) of 18.23%, contribute to its favorable valuation compared to peers. Despite the stock's impressive performance, it is trading at a discount relative to its historical valuations, which may attract further investor interest. Overall, the combination of strong financial metrics and positive market sentiment has driven the stock's recent upward movement.