Why is Kalyani Forge falling/rising?

As of 24-Jun, Kalyani Forge Ltd's stock price is currently at Rs 743.60, reflecting an increase of Rs 1.6 or 0.22%. The stock has shown a positive performance today, reaching an intraday high of Rs 758.7, which is a rise of 2.25%. It is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong upward trend. Additionally, there has been a significant increase in investor participation, with delivery volume rising by 116.61% compared to the 5-day average. Over the past year, Kalyani Forge has generated a return of 16.48%, while profits have surged by 82.9%, contributing to a favorable PEG ratio of 0.4. The stock is also trading at a discount compared to its peers, suggesting a fair valuation.
In the broader market context, Kalyani Forge's short-term return of +0.57% over the past week is slightly below the benchmark Sensex, which has gained +0.58%. However, the stock has outperformed the Sensex over longer periods, including a year-to-date return of +8.81% compared to the Sensex's +5.01%. This consistent performance, along with positive quarterly results and a strong return on capital employed, supports the stock's upward movement despite a recent decline of 7.78% over the past month. The majority ownership by promoters further instills confidence in the stock's stability and growth potential.