Why is Megastar Foods falling/rising?

As of 20-Jun, Megastar Foods Ltd is experiencing a significant rise in its stock price, currently at Rs 287.00, reflecting an increase of Rs 42.0 or 17.14%. The stock has shown strong performance today, outperforming its sector by 16.83% and has been on a consecutive gain streak for the last three days, accumulating a total return of 21.22% during this period. It opened with a notable gain of 11.43% and reached an intraday high of Rs 294, although it also experienced a low of Rs 233.15. The stock is trading above its moving averages across various timeframes, indicating a bullish trend. Additionally, there has been a significant increase in investor participation, with delivery volume rising by 146.1% compared to the five-day average. While the stock has generated a return of 15.12% over the past year, it is important to note that profits have fallen by 40%, which presents a mixed outlook.
In the broader market context, Megastar Foods has outperformed the Sensex, which recorded a return of only 1.59% over the past week, while Megastar Foods achieved a return of 18.60% in the same timeframe. This trend of outperformance is consistent, as the stock has also surpassed the benchmark returns over one month, year-to-date, and over three years. The increasing stake of institutional investors, who now hold 4.09% of the company, suggests growing confidence in the stock's potential, as these investors typically have more resources to analyze company fundamentals. Overall, the combination of strong short-term performance, rising investor interest, and the stock trading at a discount compared to peers contributes to its upward price movement.