Why is Mazagon Dock falling/rising?

As of 05-Aug, Mazagon Dock Shipbuilders Ltd is experiencing a price increase, currently at 2,848.80, reflecting a rise of 80.8 points or 2.92%. The stock has shown strong performance today, outperforming its sector by 3.02% and has gained consecutively over the last two days, with a total return of 4.67% during this period. Despite a recent decline of 14.40% over the past month, the stock has demonstrated significant long-term growth, with a year-to-date increase of 27.87% and a remarkable 1955.41% rise over the last three years. The company maintains strong fundamentals, evidenced by a healthy average return on equity of 23.87%, consistent net sales growth, and a low debt-to-equity ratio, contributing positively to its recent price movement.
In the broader market context, while Mazagon Dock has outperformed the Sensex by 4.74% over the past week, the benchmark itself has seen a decline of 0.77%. This indicates that the stock is gaining traction even as the overall market faces challenges. The stock's liquidity remains adequate, although there has been a notable decrease in investor participation, with delivery volume falling by 30.57% compared to the five-day average. This decline in participation may suggest caution among investors, but the stock's strong long-term fundamentals and recent performance could be driving its upward movement despite the broader market conditions.