Why is Max Estates falling/rising?

As of 23-Jun, Max Estates Ltd is experiencing a rise in its stock price, currently at Rs 515.50, reflecting an increase of Rs 12.75 or 2.54%. The stock has shown strong performance recently, outperforming its sector by 2.17% today and achieving a consecutive gain over the last two days with a total return of 5.83%. 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 has reported positive results in the last two quarters, with net sales growing by 47.32% and profit after tax increasing by 215.0% compared to the previous four-quarter average. Furthermore, the low debt-to-equity ratio and high institutional holdings at 33.73% suggest a stable financial position and confidence from larger investors.
In the broader market context, Max Estates has outperformed the benchmark Sensex over the past week and month, with returns of 1.48% and 6.41%, respectively, compared to the Sensex's 0.12% and 0.22%. However, the year-to-date performance shows a decline of 9.23% for Max Estates, contrasting with the Sensex's gain of 4.81%. Despite a recent drop in investor participation, as indicated by a significant decrease in delivery volume, the overall positive financial results and strong institutional backing have contributed to the stock's upward movement in the short term.