Why is Manorama Indust. falling/rising?

As of 28-Jul, Manorama Industries Ltd is experiencing a significant rise in its stock price, currently at Rs 1,680.00, reflecting an increase of Rs 110.1 or 7.01%. The stock has reached a new 52-week high of Rs 1,774 today, demonstrating strong performance with a 5.65% gap up at the open and an intraday high of 13%. Over the past week, the stock has gained 6.98%, and it has shown impressive returns of 138.15% over the last year, significantly outperforming the BSE500 index. The company has consistently reported positive results, with net sales growing by 24.37% and operating profit showing a remarkable increase, contributing to a strong buy sentiment among investors. Additionally, the stock is trading above all key moving averages, indicating a bullish trend.
In the broader market context, while the Sensex has declined by 1.59% over the past week, Manorama Industries Ltd has outperformed this benchmark significantly. The stock's strong performance can be attributed to its healthy long-term growth metrics, with net sales increasing at an annual rate of 39.66% and consistent returns over the last three years. Despite its high valuation, the stock's PEG ratio of 0.3 suggests it is trading at a discount compared to its peers, which may attract further investor interest. The rising investor participation, evidenced by a 47.54% increase in delivery volume, further supports the stock's upward movement.