Why is India Nipp.Elec. falling/rising?

As of 11-Jul, India Nippon Electricals Ltd is experiencing a price increase, currently at Rs 784.50, reflecting a rise of Rs 17.85 or 2.33%. The stock has shown strong performance today, outperforming its sector by 3.01% and reaching an intraday high of Rs 785.5. Over the past week, the stock has increased by 2.29%, and it has also demonstrated significant gains over the past month with a rise of 9.06%. The company has reported positive financial results for the last five consecutive quarters, including a notable growth in profit after tax and net sales, which supports its upward price movement. However, there has been a decline in investor participation, with delivery volume falling by 26.63% against the five-day average, which could indicate a potential concern for future trading activity.
In the broader market context, India Nippon Electricals Ltd has outperformed the Sensex, which has declined by 1.12% over the past week, while the stock has gained 2.29%. Year-to-date, the stock has increased by 10.75%, compared to the Sensex's 5.58% rise, further highlighting its strong relative performance. Despite a negative return of 4.45% over the past year, the company's profits have increased significantly, leading to a favorable PEG ratio of 0.6, suggesting that the stock may be undervalued relative to its earnings growth. Overall, the combination of positive financial results and strong short-term performance against the benchmark contributes to the stock's rising price.