Why is Mahamaya Steel falling/rising?

As of 09-Jul, Mahamaya Steel Industries Ltd's stock price is currently at Rs 347.70, reflecting an increase of Rs 6.8 or 1.99%. Today's price summary indicates that the stock has outperformed its sector by 1.67% and is close to its 52-week high, being only 2.36% away from Rs 355.9. After experiencing five consecutive days of decline, the stock has shown a trend reversal today. Additionally, it is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive momentum. The stock has also seen a significant rise in delivery volume, increasing by 357.22% compared to the 5-day average, which suggests rising investor participation. Furthermore, the company has reported impressive financial growth, including a 307.77% increase in net profit and a 241.72% return over the past year, contributing to the stock's upward movement.
In the broader market context, Mahamaya Steel's short-term performance has been slightly negative, with a 1-week return of -0.32%, while the benchmark Sensex has gained 0.15% over the same period. However, the stock has significantly outperformed the Sensex over longer periods, with a year-to-date return of 69.61% compared to the Sensex's 6.91%. This long-term outperformance, combined with the company's strong financial results and increasing investor interest, suggests that the stock's recent rise is supported by solid fundamentals, despite some short-term volatility.