Why is Hindalco Inds. falling/rising?

As of 27-Jun, Hindalco Industries Ltd is experiencing a price increase, currently at 697.60, reflecting a rise of 7.05 or 1.02%. The stock has shown strong performance recently, gaining 9% over the last six days and outperforming its sector by 0.48% today. Additionally, it is trading above all key moving averages, indicating positive momentum. Over the past week, the stock has risen by 7.48%, while its year-to-date return stands at an impressive 15.94%. The company has also reported healthy growth metrics, including a 41.51% increase in net profit and consistent positive results over the last six quarters, contributing to investor confidence and demand.
In the broader market context, Hindalco's short-term performance significantly outpaces the benchmark Sensex, which has only increased by 2.00% over the past week. This strong relative performance is supported by high institutional holdings at 56.87%, suggesting that informed investors are backing the stock. The company's attractive valuation, with a PEG ratio of 0.2 and a robust return on capital employed (ROCE) of 14.4, further enhances its appeal. Overall, the combination of solid financial results, positive market sentiment, and strong institutional support has contributed to the stock's upward movement.