Why is Maithan Alloys falling/rising?

As of 25-Jun, Maithan Alloys Ltd. is experiencing a price increase, currently at Rs 1,230.00, reflecting a rise of Rs 60.7 or 5.19%. The stock has shown strong performance recently, gaining 7.73% over the last three days and is currently trading close to its 52-week high, just 4.71% away from Rs 1,287.95. Additionally, the stock has outperformed its sector by 2.33% today and is trading above all key moving averages, indicating positive momentum. The company has a low debt-to-equity ratio and an attractive return on equity of 16.8, with profits rising significantly by 80.6% over the past year, contributing to its favorable valuation despite trading at a premium compared to peers.
In the broader market context, Maithan Alloys has outperformed the benchmark Sensex, which has only increased by 1.61% over the past week, while the stock itself has risen by 7.20%. Over the past month, Maithan Alloys has achieved a return of 20.59%, significantly higher than the Sensex's 1.27%. This strong relative performance, coupled with rising investor participation and liquidity, suggests that investor sentiment is positive towards the stock, further supporting its upward price movement.