Why is Narmada Agrobase falling/rising?

As of 25-Jul, Narmada Agrobase Ltd's stock price is currently at 22.16, reflecting an increase of 0.81 or 3.79%. The stock has shown a positive trend today, outperforming its sector by 3.55% and reversing a three-day decline. It is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong upward momentum. Additionally, the company has reported positive results for the last five consecutive quarters, with net sales growing by 26.05% and a higher profit after tax of Rs 3.07 crore. The rising confidence of promoters, who have increased their stake by 1.19% to 50.3%, further supports the stock's positive movement.
In the broader market context, Narmada Agrobase has outperformed the Sensex over the past week and month, with returns of +4.58% and +19.33%, respectively, while the Sensex has declined by -0.36% and -1.56% during the same periods. This indicates that the stock is gaining traction despite a generally unfavorable market environment. However, it is worth noting that investor participation has decreased significantly, with delivery volume falling by 75.32% against the 5-day average, which could be a concern for future liquidity. Overall, the stock's recent rise can be attributed to strong company performance and increased promoter confidence, despite some signs of declining investor participation.