Why is Mangalam Cement falling/rising?

As of 23-Oct, Mangalam Cement Ltd is experiencing a rise in its stock price, currently at Rs 796.10, reflecting an increase of Rs 32.05 or 4.19%. The stock has shown strong performance today, outperforming its sector by 4.91% and achieving a consecutive gain over the last three days with a total return of 6.37%. It reached an intraday high of Rs 820.65, and is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Additionally, the company has reported a significant growth in net profit of 90.77% and positive results for the last two consecutive quarters, which has likely contributed to the stock's upward movement. Institutional investors have also increased their stake, indicating growing confidence in the company's fundamentals.
In the broader market context, Mangalam Cement's short-term performance of +5.17% over the past week significantly outpaces the Sensex, which has only risen by 1.30% during the same period. This strong relative performance suggests that investors are responding positively to the company's recent financial results and operational improvements, especially in light of the substantial growth in profit before tax and net profit. Despite a year-to-date decline of -20.38%, the recent positive trends in both stock performance and institutional interest may indicate a potential turnaround for the company, contrasting with the broader market's more stable growth.