Why is Kavveri Defence falling/rising?

As of 07-Jul, Kavveri Defence & Wireless Technologies Ltd is experiencing a price increase, currently at Rs 63.37, which reflects a rise of 3.01 or 4.99%. The stock has been on a positive trajectory, gaining for the last 11 consecutive days and achieving a remarkable 44.12% return during this period. It opened with a gain of 2.72% today and reached an intraday high of Rs 63.37. The stock is also trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Over the past year, it has delivered a substantial return of 161.10%, significantly outperforming the BSE500 index. The company's strong financial performance, including a net profit growth of 66.97% and a remarkable increase in net sales and profit after tax, has contributed positively to investor sentiment.
In the broader market context, while Kavveri Defence has shown impressive short-term performance with a 24.40% increase over the past week, the benchmark Sensex has slightly declined by 0.20% during the same period. This indicates that Kavveri Defence is outperforming the market, which may attract more investor interest. However, it is important to note that the telecommunication equipment sector has seen a decline of 2.83%, suggesting that the stock's rise is somewhat isolated from sector trends. Additionally, there has been a decrease in investor participation, with delivery volume falling by 20.62% against the 5-day average, which could be a concern for future liquidity. Overall, the stock's strong fundamentals and recent performance are driving its upward movement despite some challenges in the broader market.