Why is Hindalco Inds. falling/rising?

As of 29-Jul, Hindalco Industries Ltd is experiencing a price increase, currently at 692.65, reflecting a rise of 5.2 points or 0.76%. Today's price summary indicates that the stock has outperformed its sector by 0.33% and has gained after two consecutive days of decline. Furthermore, Hindalco is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a positive trend. The stock has shown strong performance over the past year, with a return of 3.92%, and has outperformed the benchmark Sensex in various time frames, including a notable 66.82% increase over three years. Positive financial metrics, such as a 41.51% growth in net profit and consistent positive results over the last six quarters, contribute to a favorable outlook for the stock.
In the broader market context, Hindalco's short-term return of 0.38% over the past week contrasts with the Sensex's decline of 1.03%, indicating a relative strength against the benchmark. The stock's solid performance is further supported by high institutional holdings at 56.68%, which often reflects confidence in the company's fundamentals. Additionally, the company's attractive valuation metrics, such as a low PEG ratio of 0.2 and a high return on capital employed (ROCE) of 14.4, bolster investor sentiment. Overall, the combination of strong financial performance, positive market sentiment, and favorable technical indicators is driving the stock's upward movement.