Why is Maithan Alloys falling/rising?

As of 30-Jun, Maithan Alloys Ltd. is experiencing a price increase, with its current price at Rs 1,230.30, reflecting a rise of Rs 7.3 or 0.6%. The stock has shown a positive trend, gaining 6.67% over the past week and 10.74% over the past month, significantly outperforming the Sensex, which rose by 2.09% and 2.65% in the same periods, respectively. Despite a recent underperformance against its sector by 0.8%, the stock opened with a gain of 2.83% today and reached an intraday high of Rs 1,265. The stock is trading above all its moving averages, indicating a strong upward trend. Additionally, the company has a low debt-to-equity ratio and an attractive return on equity of 16.8%, which supports its valuation and recent price movement.
In the broader market context, Maithan Alloys has outperformed the Sensex in both the short-term and year-to-date returns, with a year-to-date increase of 10.84% compared to the Sensex's 7.00%. This performance is notable given that the stock's profits have surged by 80.6% over the past year, contributing to its positive momentum. However, there is a concern regarding falling investor participation, as evidenced by a decline in delivery volume. Despite this, the stock remains liquid enough for trading, which may help sustain its price levels. Overall, the combination of strong financial metrics and recent price performance contributes to the stock's upward trajectory.