Why is Garg Furnace falling/rising?

As of 21-Jul, Garg Furnace Ltd's stock price is rising, currently at 252.90, reflecting an increase of 24.2 or 10.58%. The stock has shown strong performance recently, gaining 34.49% over the past week and 52.12% over the past month, significantly outperforming the Sensex, which has seen negligible changes during the same periods. Today's trading has been characterized by high volatility, with an intraday high of Rs 256 and a wide trading range of Rs 27.3. Additionally, the stock has been trading above its moving averages and has experienced a notable increase in investor participation, with delivery volume rising by nearly 90% compared to the previous five-day average. The company's strong financials, including a low Debt to EBITDA ratio and impressive quarterly growth in net sales and profit after tax, contribute positively to its recent stock performance.
In the broader market context, while Garg Furnace has outperformed the Sensex in the short term, it has underperformed over the past year, with a return of -11.19% compared to the market's 1.98% gain. Despite this longer-term underperformance, the stock's recent gains indicate a shift in investor sentiment, likely driven by its strong quarterly results and improved financial metrics. The stock's premium valuation relative to peers and the rising profitability, despite the negative annual return, suggest that investors may be optimistic about the company's future prospects, contributing to the current upward price movement.