Why is Godavari Bioref. falling/rising?

As of 16-Jul, Godavari Biorefineries Ltd's stock price is rising, currently at Rs 301.50, reflecting an increase of Rs 11.5 or 3.97%. The stock has shown strong performance today, having outperformed its sector by 3.99% and achieving a consecutive gain over the last three days with a total return of 7.87%. It opened with a gain of 3.97% and has maintained this price throughout the trading session. Additionally, the stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Positive financial results, including a significant increase in net sales and a high operating profit to interest ratio, contribute to the stock's upward momentum, despite a notable drop in profits over the past year.
Broader market context indicates that while Godavari Biorefineries has performed well in the short term, with a 7.52% increase over the past week, the benchmark Sensex has declined by 1.08% in the same period. This suggests that the stock is gaining traction against a backdrop of broader market weakness. However, it is important to note that the stock has underperformed on a year-to-date basis, with a decline of 4.01% compared to the Sensex's gain of 5.75%. The falling investor participation, indicated by a decrease in delivery volume, could pose a concern for sustained growth, but the current positive financial indicators seem to be driving the stock's recent rise.