Why is Kalyani Cast-Tec falling/rising?

As of 05-Sep, Kalyani Cast-Tech Ltd is experiencing a price increase, currently at Rs 568.00, reflecting a rise of Rs 25.3 or 4.66%. The stock has shown strong performance today, outperforming its sector by 5.07% and achieving a consecutive gain over the last two days with a total return of 5.38%. The stock reached an intraday high of Rs 601, indicating significant upward momentum, although it also faced a low of Rs 522 during the day. Despite high volatility with an intraday fluctuation of 7.03%, Kalyani Cast-Tech is trading above its various moving averages, suggesting a bullish trend. However, there has been a slight decline in investor participation, as evidenced by a decrease in delivery volume.
In the broader market context, Kalyani Cast-Tech's performance over the past week has been notably strong, with a return of 5.63%, significantly outpacing the Sensex, which only gained 1.13%. Over the past month, the stock has increased by 10.08%, while the benchmark remained flat. Year-to-date, Kalyani Cast-Tech has delivered a return of 24.77%, compared to the Sensex's 3.29%, highlighting its robust performance relative to the market. This strong performance, coupled with the stock's ability to maintain higher trading levels than its moving averages, suggests positive investor sentiment despite the recent drop in delivery volume.