Why is Kalyani Steels falling/rising?

As of 16-Jul, Kalyani Steels Ltd is experiencing a price increase, currently at 921.00, reflecting a rise of 6.0 or 0.66%. The stock has shown positive momentum, gaining 2.05% over the last two days and outperforming its sector by 1.16% today. It is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating strong bullish sentiment. Additionally, the stock has seen a significant increase in delivery volume, rising by 38.17% against the 5-day average. Despite a year-to-date decline of 21.01%, the company reported its highest quarterly net sales and operating profit margins, contributing to a fair valuation with a Price to Book Value of 2.1.
In the broader market context, Kalyani Steels' short-term performance of +0.89% over the past week stands in contrast to the Sensex, which has declined by 1.08% during the same period. This relative strength suggests that Kalyani Steels is gaining traction amid a generally weak market. While the stock has underperformed over the past year with a return of -7.71%, its recent profit growth of 2.3% and a low debt-to-equity ratio provide a foundation for investor confidence, supporting its upward price movement despite broader market challenges.