Why is J K Cements falling/rising?

As of 16-Jul, J K Cements Ltd is experiencing a price increase, with its current price at Rs 6,497.10, reflecting a rise of 32.6 points or 0.5%. The stock is currently trading close to its 52-week high, just 1.67% away from Rs 6,596.8. It has outperformed its sector by 0.48% today and is trading above all key moving averages, indicating strong momentum. Additionally, the stock has shown impressive returns over various periods, including a 46.59% increase over the past year and a staggering 198.33% over the last three years. The company has also reported positive financial results after two consecutive negative quarters, with a notable operating profit to interest ratio and a strong cash position, which likely boosts investor confidence.
In the broader market context, J K Cements has outperformed the benchmark Sensex, which has declined by 1.08% over the past week while the stock itself has gained 1.82%. This trend of outperformance is consistent, as the stock has generated returns significantly higher than the benchmark over the past month and year. The high institutional ownership at 40.64% suggests that knowledgeable investors are backing the stock, further supporting its price movement. Overall, the combination of strong financial performance, positive market sentiment, and favorable comparisons to the broader market contributes to the rising price of J K Cements.