Why is Maithan Alloys falling/rising?

As of 02-September, Maithan Alloys Ltd. is experiencing a price increase, currently at Rs 1,074.00, reflecting a rise of 28.0 points or 2.68%. The stock has been gaining for the last three days, with a total return of 3.33% during this period. It outperformed its sector by 2.12% today and reached an intraday high of Rs 1,075.1. However, despite this recent uptick, the stock has shown a decline of 6.53% over the past year, with profits decreasing by 4.8%. The company maintains a low debt-to-equity ratio and an attractive valuation with a return on equity of 16.8, but it is trading at a premium compared to its peers' historical valuations.
In the broader market context, the stock's short-term performance over the past week has been positive at +2.37%, contrasting with the Sensex, which has declined by 0.78%. While the stock's recent gains are notable, its year-to-date performance remains negative at -3.24%, compared to the Sensex's positive return of +2.58%. Additionally, there has been a decline in investor participation, with delivery volume falling by 19.7% against the five-day average, which may indicate caution among investors despite the stock's recent price rise.