Why is Magna Electrocas falling/rising?

As of 16-Jul, Magna Electro Castings Ltd is experiencing a price increase, currently at Rs 1,318.20, reflecting a rise of 28.3 points or 2.19%. The stock has shown strong performance recently, gaining 3.63% over the last two days and is currently trading above all key moving averages, indicating positive momentum. Additionally, the stock has delivered impressive returns, with a 21.78% increase over the past month and a remarkable 175.23% increase over the past year. The company has also reported positive financial results for the last five consecutive quarters, with net sales growing by 23.99% and profit after tax increasing by 27.03%. However, there is a noted decline in investor participation, with delivery volume decreasing by 3.09% against the five-day average.
In the broader market context, while Magna Electro Castings has outperformed the benchmark Sensex in the long term, it has underperformed in the short term, with a 1.99% decline over the past week compared to the Sensex's 1.08% decline. This suggests that while the stock is on an upward trajectory currently, it has faced some challenges recently relative to the market. Nonetheless, the company's strong financial performance and low debt-to-equity ratio contribute positively to investor sentiment, supporting the stock's rise despite the recent dip in trading volume.