Why is Mahamaya Steel falling/rising?

As of 10-Jul, Mahamaya Steel Industries Ltd's stock price is rising, currently at Rs 353.65, reflecting an increase of Rs 5.95 or 1.71%. The stock has shown strong performance recently, gaining 3.74% over the last two days and is only 0.64% away from its 52-week high of Rs 355.9. It has outperformed its sector by 0.69% today and has been trading above all key moving averages, indicating a positive trend. Additionally, the company has reported impressive financial growth, with a net profit increase of 307.77% and a significant rise in profit before tax, contributing to the stock's upward momentum.
In the broader market context, Mahamaya Steel's short-term return of 1.39% over the past week contrasts favorably with the Sensex, which has seen a slight decline of 0.06%. The stock's year-to-date performance of 72.51% and a remarkable 251.54% return over the past year further illustrate its strong position compared to the benchmark's 6.46% and 4.09% gains, respectively. This consistent outperformance in both the near and long term, coupled with rising investor participation and high volatility, suggests a robust demand for the stock, reinforcing its upward price movement.