Why is Nava falling/rising?

As of 23-Jul, Nava Ltd's stock price is rising, currently at 630.50, reflecting an increase of 20.3 or 3.33%. The stock has shown strong performance recently, with a consecutive gain over the last three days, resulting in a total return of 3.96% during this period. Additionally, Nava has outperformed its sector by 3.13% today. The stock has also demonstrated impressive returns over various time frames, including a 56.26% increase over the past year and a staggering 541.08% over the last three years. The positive sentiment is bolstered by rising promoter confidence, as they have increased their stake in the company by 1.24%, indicating strong belief in the company's future prospects. Furthermore, the company's low Debt to EBITDA ratio of 1.23 times suggests a strong ability to service its debt, contributing to a favorable outlook.
In the broader market context, Nava's short-term performance has significantly outpaced the benchmark, with a 1-week return of 2.71% compared to the Sensex's 0.11%. This trend of outperformance continues over longer periods, with Nava achieving a 7.81% return over the past month versus the Sensex's 1.01%. Despite a recent decline in investor participation, as indicated by a 34.41% drop in delivery volume, the overall liquidity remains adequate for trading. The combination of strong returns, increasing promoter confidence, and a solid financial position supports the stock's upward movement in the market.