Why is Maithan Alloys falling/rising?

As of 26-Jun, Maithan Alloys Ltd. is experiencing a slight decline in its stock price, currently at Rs 1,226.90, which reflects a decrease of 3.1 points or 0.25%. Despite this drop, the stock has shown strong performance over the past week and month, with returns of 7.17% and 15.28% respectively. The stock is currently trading close to its 52-week high, just 4.98% away from Rs 1,287.95. However, it opened the day with a loss of 2.44% and touched an intraday low of Rs 1,200. Notably, the stock has been trading above its moving averages across various time frames, indicating a generally positive trend. Additionally, the company has a low debt-to-equity ratio and a strong return on equity of 16.8, which contributes to its attractive valuation despite trading at a premium compared to peers.
In the broader market context, Maithan Alloys has outperformed the Sensex, with a year-to-date return of 10.53% compared to the benchmark's 7.19%. This indicates that while the stock is currently facing a minor setback, its overall performance remains robust relative to the market. The recent decline may be attributed to a trend reversal after three consecutive days of gains, suggesting a temporary pullback rather than a fundamental weakness. The significant increase in delivery volume also points to rising investor participation, which could support the stock's recovery in the near future.