Why is Graphite India falling/rising?

As of 18-Jul, Graphite India Ltd. is experiencing a slight increase in its stock price, currently at 578.15, with a change of 0.15 (0.03%) up. The stock has outperformed its sector by 0.68% today and is trading higher than its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Over the past week, the stock has risen by 2.84%, while it has gained 4.67% over the past month, contrasting with the Sensex, which has seen a decline of 0.90% in the same week. Despite a drop in delivery volume by 44.25% against the 5-day average, the company has a strong financial position, evidenced by a low debt-to-equity ratio, significant growth in profit before tax and profit after tax, and a high cash reserve. Additionally, institutional investors have increased their stake, indicating confidence in the company's fundamentals.
In the broader market context, Graphite India's recent performance stands out as it has outpaced the Sensex in both the short-term and long-term returns, with a year-to-date increase of 2.60% compared to the Sensex's 4.63%. This suggests that while the stock has been performing well, it is still lagging behind the benchmark on a year-to-date basis. The high dividend yield of 3.81% also adds to its attractiveness, although the stock is considered expensive with a high price-to-book ratio. Overall, the combination of strong institutional interest, solid financial results, and favorable technical indicators contributes to the stock's upward movement, despite some concerns regarding valuation and declining retail participation.