Why is Natl. Plastic falling/rising?

As of 22-Jul, National Plastic Industries Ltd is experiencing a price increase, currently at Rs 66.05, reflecting a rise of Rs 2.06 or 3.22%. Today's price summary indicates that the stock has outperformed its sector by 4.54%, reaching an intraday high of Rs 72, which is a significant increase of 12.52%. The stock has shown high volatility today, with an intraday volatility of 5.76%, and it is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Additionally, the stock's delivery volume has increased by 7.26% compared to the 5-day average, indicating rising investor participation. Despite a year-to-date return of -2.87%, the company has reported a substantial profit increase of 132.9%, contributing to a favorable PEG ratio of 0.1, which suggests attractive valuation compared to its peers.
In the broader market context, National Plastic's short-term performance has been strong, with a 1-week return of +4.26%, while the benchmark Sensex has declined by 0.47% during the same period. This indicates that the stock is gaining traction relative to the overall market. Although the stock has underperformed over the past year with a return of -2.87%, the positive financial results and attractive valuation metrics are likely contributing to the current upward price movement. The majority ownership by promoters may also instill confidence among investors, further supporting the stock's rise.