Why is Meghmani Organi. falling/rising?

As of 03-Jul, Meghmani Organics Ltd is experiencing a price increase, currently at Rs 101.90, which reflects a change of 1.19 (1.18%) upward. The stock has shown strong performance recently, outperforming its sector by 1.86% today and reaching an intraday high of Rs 103.35, a rise of 2.62%. Over the past week, the stock has increased by 5.68%, and in the last month, it has risen by 15.65%. The company has reported positive financial results, including a significant growth in operating profit of 58.82% and consistent positive results over the last three quarters. Additionally, the stock is trading above all its moving averages, indicating a bullish trend, although there has been a notable decline in investor participation, with delivery volume falling by 55.22% against the 5-day average.
In the broader market context, Meghmani Organics Ltd has outperformed the benchmark index, the Sensex, which has declined by 0.62% over the past week. The stock's year-to-date return of 32.48% also significantly exceeds the Sensex's 6.53% gain. This strong performance is attributed to the company's impressive profit growth and attractive valuation compared to its peers, as it trades at a discount relative to average historical valuations. Despite the recent drop in delivery volume, the overall positive financial indicators and market-beating returns suggest a favorable outlook for the stock.