Why is Narmada Agrobase falling/rising?

As of 29-Sep, Narmada Agrobase Ltd's stock price is rising, currently at Rs 25.64, reflecting an increase of 2.33 or 10.0%. The stock has reached a new 52-week high today and has outperformed its sector by 10.65%. Over the last two days, it has gained 11.58%, and it opened with a gain of 2.96% today. The stock has shown strong performance over the past month, with a return of 21.23%, and a remarkable 40.19% return over the past year, significantly outperforming the benchmark Sensex, which has declined by 6.08% in the same period. Positive factors contributing to this rise include consistent growth in profits and net sales over the last six quarters, as well as increased promoter confidence, with promoters raising their stake by 1.19%.
Broader Market Context: In the short term, Narmada Agrobase's performance contrasts sharply with the broader market, as it has gained 6.30% over the past week while the Sensex has fallen by 2.18%. This divergence highlights the stock's resilience and attractiveness compared to the overall market conditions, which have been challenging. The company's strong financial results and favorable valuation metrics, such as a low price-to-book ratio and a solid return on equity, further bolster investor confidence, despite a recent decline in delivery volume. Overall, the stock's upward movement is supported by its strong fundamentals and positive market sentiment, making it a standout performer amidst broader market declines.