Why is HBL Engineering falling/rising?

As of 05-Sep, HBL Engineering Ltd's stock price is currently at Rs. 860.00, reflecting an increase of Rs. 10.55 or 1.24%. The stock has recently hit a new 52-week high of Rs. 873, indicating strong upward momentum. Despite a slight decline in investor participation, with delivery volume dropping by 66.01% compared to the 5-day average, the stock remains above its moving averages across various time frames. The company has demonstrated robust performance with a significant annual growth rate in operating profit and positive quarterly results after two consecutive negative quarters, contributing to its recent price increase.
In the broader market context, HBL Engineering's short-term return of 6.44% over the past week significantly outperforms the Sensex, which has only gained 1.13% in the same period. This strong performance is further highlighted by the company's impressive long-term returns, including a 38.04% increase year-to-date and a staggering 824.23% rise over the past three years, showcasing its resilience and growth potential compared to the broader market. Overall, the stock's positive trajectory is supported by its solid financial fundamentals and consistent returns, making it an attractive option for investors despite the recent drop in trading volume.