Why is Magna Electrocas falling/rising?

As of 30-Jun, Magna Electro Castings Ltd is experiencing a price increase, currently at Rs 1,239.00, reflecting a rise of Rs 68.00 or 5.81%. The stock has shown strong performance recently, gaining 16.68% over the last seven days and outperforming its sector by the same percentage today. It is also close to its 52-week high, just 4.84% away from Rs 1,299. The stock has consistently outperformed the benchmark Sensex, with a 1-week return of 10.42% compared to the Sensex's 2.09%, and a remarkable 1-year return of 168.18% against the Sensex's 5.79%. The company has demonstrated solid financial health, with positive results over the last five quarters, including a 23.99% growth in net sales and a 27.03% increase in profit after tax.
In the broader market context, Magna Electro Castings Ltd's strong short-term performance significantly exceeds that of the benchmark, indicating robust investor confidence. The stock's liquidity is adequate for trading, and there has been a notable increase in investor participation, with delivery volume rising by 29.24% against the five-day average. However, it is important to note that domestic mutual funds hold no stake in the company, which may suggest a lack of confidence at current price levels despite the company's strong financial metrics and market performance.