Why is JP Power Ven. falling/rising?

As of 10-Jul, Jaiprakash Power Ventures Ltd is experiencing a price increase, currently at Rs 23.02, reflecting a rise of 0.65 or 2.91%. The stock has shown strong performance recently, with a 23.30% increase over the past week and a 28.03% increase over the past month, significantly outperforming the Sensex, which has seen a negligible change of -0.06% in the same week. Although the stock is currently 3.61% away from its 52-week high of Rs 23.85, it has reversed a two-day decline and is trading above all key moving averages, indicating a positive trend. However, there has been a decline in investor participation, with delivery volume falling by 8.3% against the five-day average, which could be a concern for future momentum. Despite a 40.6% drop in profits over the past year, the stock's long-term growth potential remains strong, supported by a healthy operating profit growth rate of 22.33% annually and a fair valuation compared to peers.
In the broader market context, Jaiprakash Power Ventures Ltd has outperformed the benchmark indices significantly, with a year-to-date return of 29.98% compared to the Sensex's 6.46%. This strong performance in both the short and long term highlights the stock's resilience and attractiveness to investors, particularly in light of its market-beating returns over the past three years and one year. The stock's ability to maintain a positive trajectory despite recent profit declines suggests that investors are optimistic about its future growth prospects, further contributing to its rising price amidst a generally stable market environment.