Why is Kanishk Steel falling/rising?

As of 22-Jul, Kanishk Steel Industries Ltd is experiencing a price increase, with its current price at Rs 49.25, reflecting a rise of Rs 0.75 or 1.55%. The stock is currently trading close to its 52-week high, being only 3.86% away from Rs 51.15. It has outperformed its sector by 1.95% today and is trading above all key moving averages, indicating strong momentum. Over the past week, the stock has gained 2.60%, and it has shown impressive returns of 77.41% over the past year, significantly outpacing the broader market's return of 2.09%. However, there has been a decline in investor participation, with delivery volume falling by 15.21% against the 5-day average, which could be a concern for future trading activity.
In the broader market context, Kanishk Steel's recent performance stands out, particularly given its substantial year-to-date return of 45.28% compared to the Sensex's 5.18%. The company's strong financial results, including a remarkable 750% growth in PAT and a 220% increase in profits over the past year, contribute positively to its valuation, making it attractive despite some risks such as low management efficiency and a high Debt to EBITDA ratio. While the stock's performance is bolstered by healthy long-term growth prospects and a favorable PEG ratio of 0.1, the declining delivery volume may suggest caution among investors, which could impact future price movements.