Why is Munjal Auto Inds falling/rising?

As of 08-Sep, Munjal Auto Industries Ltd is experiencing a price increase, currently at 95.81, reflecting a change of 7.18 or 8.1% upward. The stock has shown strong performance recently, with an 8.47% increase over the last two days and a weekly return of 8.11%, significantly outperforming the Sensex, which only gained 0.53% in the same period. The stock has also been trading above its moving averages across various time frames, indicating a bullish trend. However, there has been a notable decline in investor participation, with delivery volume dropping by 51.89% compared to the five-day average. Despite this, the company maintains a strong ability to service its debt and has demonstrated healthy long-term growth, which supports its current upward movement.
In the broader market context, Munjal Auto Industries Ltd's short-term performance is markedly better than the benchmark, as it has outperformed the Sensex over the past week and month. While the stock has faced challenges over the past year, including a significant drop of 26.89% in returns, its recent gains suggest a recovery phase, particularly in light of the auto ancillary sector's overall gain of 2.3%. The stock's attractive valuation, trading at a discount compared to peers, alongside a high dividend yield of 3.36%, further enhances its appeal to investors, contributing to the recent price rise.