Why is Mazagon Dock falling/rising?

As of 02-Sep, Mazagon Dock Shipbuilders Ltd is experiencing a price increase, currently at Rs 2,731.35, reflecting a rise of Rs 76.7 or 2.89%. The stock has shown a positive trend, gaining 4.81% over the last two days, although it underperformed its sector by 1.02% today. In terms of longer-term performance, the stock has outperformed the Sensex, with a year-to-date return of 22.60% compared to the benchmark's 2.58%. Despite this positive movement, the stock's recent performance is tempered by a decline in investor participation, with delivery volume falling by 19.73% against the five-day average. Additionally, while the company boasts strong long-term fundamentals, including a healthy return on equity and consistent growth in net sales, it has faced negative results in its latest quarterly earnings, which may raise concerns among investors.
Broader market context indicates that while Mazagon Dock has shown resilience and strong returns over the past year, the broader market has not performed as well, with the Sensex declining by 2.91% over the same period. The shipbuilding sector has gained by 4.15%, suggesting some sector-specific strength, but the overall market sentiment may still be cautious due to the company's recent earnings performance and the reduction in promoter confidence, as indicated by a decrease in their stake. This combination of strong historical performance and current challenges reflects a complex landscape for investors considering the stock.