Why is Murudesh.Ceramic falling/rising?

As of 07-Jul, Murudeshwar Ceramics Ltd is experiencing a price increase, with its current price at Rs 46.12, reflecting a rise of 3.02 or 7.01%. The stock opened with a significant gain of 13.67% today and reached an intraday high of Rs 48.99. Despite a wide trading range and high volatility, the stock has outperformed its sector. Over the past week, it has shown a return of +8.01%, while its performance over the last month is +9.42%. The company has reported positive results for the last three consecutive quarters, with a notable growth in profit after tax and profit before tax, contributing to a very attractive valuation compared to its peers. However, there has been a decline in investor participation, as evidenced by a drop in delivery volume.
In the broader market context, the Sensex has seen a slight decline of -0.20% over the past week, contrasting with Murudeshwar Ceramics' strong performance. While the stock has underperformed year-to-date and over the past year, its impressive returns over three and five years indicate a strong long-term growth trajectory. The company's robust financial results, including a significant increase in profits and a favorable PEG ratio, suggest that the stock may be undervalued relative to its historical performance. This combination of strong recent results and attractive valuation metrics likely supports the stock's upward movement despite some short-term volatility and declining trading volume.