Why is Kanishk Steel falling/rising?

As of 15-Jul, Kanishk Steel Industries Ltd is experiencing a price increase, currently at 48.00, with a change of 0.5, representing a rise of 1.05%. The stock has shown a positive performance today, outperforming its sector by 0.98% and has been on a consecutive gain for the last two days, accumulating a total return of 1.16% during this period. Over the past year, Kanishk Steel has generated a remarkable return of 61.73%, significantly higher than the market's average return of 0.37%. The company has demonstrated healthy long-term growth, with operating profit increasing at an annual rate of 50.15%, and its latest financial results show a higher profit after tax and record net sales, contributing to the stock's upward momentum. However, it is important to note that there is a decline in investor participation, with delivery volume falling by 66.95% against the five-day average, which could pose a risk to sustained price increases.
In the broader market context, Kanishk Steel's short-term return of 0.21% over the past week contrasts with the benchmark Sensex, which has declined by 1.36% during the same period. This outperformance indicates that the stock is gaining traction despite broader market challenges. While the stock's valuation appears attractive compared to its peers, concerns regarding management efficiency and a high debt-to-EBITDA ratio may temper investor enthusiasm. Nevertheless, the stock's strong historical performance and positive financial indicators suggest a favorable outlook, contributing to its recent price rise.