Why is Max Estates falling/rising?

As of 18-Jul, Max Estates Ltd's stock price is currently at 551.75, reflecting an increase of 26.75, or 5.1%. The stock has shown strong performance today, outperforming its sector by 6.08% and achieving a consecutive gain over the last two days with a total return of 7.66%. It reached an intraday high of Rs 561, and is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. The company has reported positive results in the last two quarters, with net sales growing by 47.32% and a significant increase in profit after tax of 215% compared to the previous four-quarter average. Additionally, the stock has a low debt-to-equity ratio and high institutional holdings at 33.73%, indicating strong investor confidence and capability in analyzing the company's fundamentals.
In the broader market context, the stock has outperformed the benchmark Sensex over the past week, with a return of 8.10% compared to the Sensex's decline of 0.90%. Over the past month, Max Estates has also shown a return of 10.68%, while the Sensex has only increased by 0.38%. This strong short-term performance, combined with rising investor participation and liquidity, suggests that the stock is gaining traction despite a year-to-date decline of 2.85% compared to the Sensex's increase of 4.63%. Overall, the positive financial results and strong market performance contribute to the stock's upward movement.