Why is Megastar Foods falling/rising?

As of 01-Jul, Megastar Foods Ltd is experiencing a price increase, currently at 290.00, reflecting a rise of 11.95 or 4.3%. The stock has shown strong performance today, outperforming its sector by 4.99% and has gained consecutively over the last two days, accumulating a total return of 8.86% in this period. It opened with a gain of 2.5% and reached an intraday high of Rs 294.95, indicating positive momentum. Additionally, the stock has consistently traded above its moving averages across various time frames, and there has been a significant increase in delivery volume, suggesting rising investor interest. However, despite a 15.24% return over the past year, the company's profits have fallen by 40%, which may temper some investor enthusiasm.
In the broader market context, Megastar Foods has outperformed the benchmark, with a one-year return of 15.24% compared to the BSE500's 3.20%. This market-beating performance, coupled with increased participation from institutional investors—who have raised their stake in the company—contributes to the stock's upward movement. The stock is also trading at a discount relative to its peers, which may attract further investment. Overall, the combination of strong short-term performance, increased investor participation, and favorable comparisons to the broader market supports the stock's rising price.