Why is Manali Petrochem falling/rising?

As of 03-Sep, Manali Petrochemicals Ltd is experiencing a significant rise in its stock price, currently at Rs 74.00, which reflects an increase of Rs 5.42 or 7.9%. The stock has shown strong performance recently, gaining 14.5% over the last four days and outperforming its sector by 6.64% today. It opened with a gain of 2.2% and reached an intraday high of Rs 74.65. Additionally, the stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive trend. The company also reported positive financial results, with the highest quarterly PBDIT and operating profit margins, contributing to investor confidence.
In the broader market context, Manali Petrochemicals has outperformed the benchmark Sensex over the past week and month, with returns of +12.93% and +11.70%, respectively, while the Sensex has seen slight declines. This strong performance contrasts with the stock's longer-term returns, which show a decline of 16.66% over the past year and 21.28% over three years, suggesting that recent gains may be a recovery from previous underperformance. The company's low debt-to-equity ratio and rising investor participation, evidenced by a 35.98% increase in delivery volume, further support the stock's upward movement.