Why is Mahamaya Steel falling/rising?

As of 24-Jun, Mahamaya Steel Industries Ltd's stock price is rising, currently at Rs. 348.40, reflecting an increase of Rs. 6.8 or 1.99%. The stock has recently reached a new 52-week high and has been on an upward trend, gaining for the last six consecutive days with a total return of 10.99% during this period. It is also trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating strong momentum. The company reported a remarkable growth in net profit of 307.77% and achieved its highest net sales and PBDIT in the latest quarter, contributing to positive investor sentiment and performance. Additionally, the delivery volume has increased significantly, suggesting rising investor participation and liquidity.
In the broader market context, Mahamaya Steel's stock has outperformed the Sensex, with a 1-week return of 10.24% compared to the benchmark's 0.58%, and a year-to-date return of 69.95% versus the Sensex's 5.01%. This consistent outperformance over various periods, including a staggering 231.65% return over the past year, highlights the stock's strong performance relative to the market. The company's ability to generate substantial returns and maintain a positive growth trajectory has positioned it favorably among investors, further driving its stock price upward.