Why is Mangalam Global falling/rising?

As of 01-Oct, Mangalam Global Enterprise Ltd is experiencing a price increase, with its current price at Rs 17.10, reflecting a rise of 1.18 or 7.41%. Today's price summary indicates that the stock has outperformed its sector by 6.23% and has gained after three consecutive days of decline. The stock reached an intraday high of Rs 17.89, showcasing a significant upward movement. Over the past month, the stock has increased by 8.92%, while year-to-date returns stand at 19.71%. Despite a recent drop in delivery volume, the company demonstrates healthy long-term growth, with net sales growing at an annual rate of 25.08% and operating profit at 79.68%. The stock is trading at a discount compared to its peers, which may contribute to its recent upward movement.
In the broader market context, the stock's short-term performance contrasts with the benchmark Sensex, which has declined by 0.90% over the past week. This indicates that Mangalam Global is not only rising in price but is also gaining traction against a generally unfavorable market backdrop. The stock's ability to maintain higher trading levels than its moving averages further supports its positive momentum, despite the noted volatility and falling investor participation. Overall, the combination of strong financial growth, favorable valuation, and recent price performance suggests a positive outlook for Mangalam Global Enterprise Ltd amidst a challenging market environment.