Why is Kanishk Steel falling/rising?

As of 18-Jul, Kanishk Steel Industries Ltd is experiencing a rise in its stock price, currently at Rs 49.00, reflecting an increase of 0.9 or 1.87%. The stock has shown strong performance, gaining 2.51% over the last two days and outperforming its sector by 1.55%. It is also trading close to its 52-week high, just 4.39% away from Rs 51.15. Over the past year, Kanishk Steel has delivered impressive returns of 66.84%, significantly higher than the broader market's performance, which has been negative at -0.36%. The company's operating profit has grown at an annual rate of 50.15%, and its recent financial results indicate a higher profit after tax of Rs 7.41 crore and record net sales of Rs 98.57 crore, contributing positively to investor sentiment.
In the broader market context, Kanishk Steel's short-term return of 3.27% over the past week stands in stark contrast to the Sensex, which has declined by 0.90%. This divergence suggests that Kanishk Steel is not only performing well relative to the market but is also attracting investor interest despite a recent drop in delivery volume, which fell by 31.14% against the five-day average. While the company faces challenges such as low management efficiency and a high Debt to EBITDA ratio, its strong growth metrics and attractive valuation compared to peers appear to be driving the stock's upward movement.