Why is Nava falling/rising?

As of 03-Jul, Nava Ltd's stock price is currently at 613.65, reflecting an increase of 16.65 or 2.79%. The stock has shown strong performance today, outperforming its sector by 3.33% and has been on a consecutive gain for the last two days, rising by 3.79% during this period. It opened with a gain of 2.4% and reached an intraday high of Rs 618, indicating positive momentum. Additionally, the stock has demonstrated impressive returns over various periods, including a 62.91% increase over the past year and a staggering 600.51% over the last three years. The company's low Debt to EBITDA ratio of 1.23 times and the recent increase in promoter stake by 1.24% to 50.13% reflect strong confidence in its future, contributing positively to the stock's upward movement.
In the broader market context, Nava Ltd has significantly outperformed the Sensex, which has seen a decline of 0.62% over the past week while Nava has increased by 3.78%. Over the past month, Nava's return of 25.58% also surpasses the Sensex's 3.10% gain, highlighting its strong performance relative to the benchmark. Despite a recent decline in investor participation, with delivery volume falling by 52.12% against the 5-day average, the liquidity remains sufficient for trading, suggesting that the stock's rise is supported by solid fundamentals and investor confidence.