Why is Narmada Agrobase falling/rising?

As of 08-Oct, Narmada Agrobase Ltd is experiencing a price increase, currently at Rs 27.49, reflecting a rise of 0.32 or 1.18%. The stock has recently hit a new 52-week high of Rs 28.15 and has outperformed its sector by 2.86%. Over the past two days, it has gained 6.51%, and it is trading above all key moving averages (5-day, 20-day, 50-day, 100-day, and 200-day). The company has shown strong financial performance, with a 59.09% growth in profit after tax over the last nine months and a 30.22% increase in net sales in the latest six months. Additionally, promoter confidence is rising as they have increased their stake by 1.19%, indicating strong belief in the company's future prospects.
In the broader market context, Narmada Agrobase has significantly outperformed the benchmark, with a 60.10% return over the past year compared to the BSE500's negative return of -2.13%. The stock's performance over various periods also highlights its strength, with a 10.22% increase over the last week and a 24.39% increase over the past month, while the Sensex has only risen by 0.98% and 1.22%, respectively. This strong performance, coupled with rising investor participation and liquidity, suggests that the stock is gaining traction in a challenging market environment.