Why is Mahamaya Steel falling/rising?

As of 04-Aug, Mahamaya Steel Industries Ltd is experiencing a price increase, currently at Rs 359.90, reflecting a rise of Rs 2.6 or 0.73%. The stock has shown a notable performance today, having outperformed its sector by 1.54% and is only 4.2% away from its 52-week high of Rs 375. Despite a recent trend reversal after three consecutive days of decline, the stock touched an intraday low of Rs 343.35 earlier in the day. Over the past month, the stock has gained 5.23%, significantly outperforming the Sensex, which has declined by 2.89%. Additionally, the company reported a remarkable growth in net profit of 307.77% and achieved its highest net sales and PBDIT in the last quarter, contributing positively to investor sentiment.
In the broader market context, while Mahamaya Steel has shown strong performance with a year-to-date return of 75.56% compared to the Sensex's 3.69%, it is important to note that the metal sector, specifically Ferrous, has fallen by 2.03%. This sector-wide decline may have influenced investor participation, which has decreased significantly, with delivery volume dropping by 58.58% against the five-day average. Despite this, the stock remains liquid enough for trading, and its long-term performance has consistently outpaced the BSE500 over various periods, indicating a strong market position.