Why is Konark Synth falling/rising?

As of 24-Jul, Konark Synthetic Ltd's stock price is rising, currently at Rs 35.78, reflecting an increase of 1.7 or 4.99%. The stock has shown strong performance recently, gaining 10.23% over the last two days and outperforming its sector by 4.97% today. It has also demonstrated impressive returns over various periods, including a 65.27% increase over the past year and a staggering 234.39% over the last three years. Despite these gains, the company has faced challenges, including a significant drop in profits by 179% over the past year, although it maintains an attractive valuation compared to its peers. The stock is currently trading above all key moving averages, indicating a positive trend, despite a notable decline in investor participation, with delivery volume dropping by 99.85% on July 23.
In the broader market context, Konark Synthetic Ltd's recent performance contrasts sharply with the Sensex, which has seen a minimal decline of 0.09% over the past week. The stock's 5.27% increase over the same period highlights its strength relative to the benchmark. Furthermore, while the stock has outperformed the BSE500 over the last three years, one year, and three months, the overall market sentiment remains cautious, as indicated by the erratic trading patterns and reduced liquidity. This combination of strong stock performance against a backdrop of broader market challenges contributes to the current upward movement in Konark Synthetic Ltd's stock price.