Why is Konark Synth falling/rising?

As of 01-Aug, Konark Synthetic Ltd's stock price is currently at Rs 37.25, reflecting an increase of Rs 1.75 or 4.93%. The stock opened with a gain of 4.93% today and has maintained this price throughout the trading session. Over the past week, the stock has risen by 3.47%, and it has shown impressive performance over the past month with a return of 21.30%. Despite a significant return of 85.32% over the past year, the company has faced challenges, including a decline in profits by 179%. The stock is trading at a discount compared to its peers, which may contribute to its attractive valuation despite the negative profit trend.
In the broader market context, while Konark Synthetic has outperformed the Sensex, which has declined by 1.06% over the past week, the textile sector has also seen a downturn of 2.86%. This indicates that the stock's rise is occurring in a generally unfavorable market environment for its sector. Additionally, the stock's liquidity appears to be adequate, although there has been a notable drop in investor participation, with delivery volume falling by 92.45% against the 5-day average. Overall, the stock's strong historical performance and current trading above key moving averages suggest resilience, even as broader market conditions remain challenging.