Why is Nava falling/rising?

As of 29-Jul, Nava Ltd's stock price is currently at 606.60, reflecting an increase of 6.6, or 1.1%. The stock has shown a trend reversal, gaining after two consecutive days of decline. Despite touching an intraday low of Rs 585.6, the stock remains above its 50-day, 100-day, and 200-day moving averages, although it is lower than its 5-day and 20-day moving averages. Over the past year, Nava Ltd has delivered a robust return of 36.37%, significantly outperforming the BSE500 index, which has remained flat at -0.02%. Additionally, the company has a low Debt to EBITDA ratio of 1.23 times, indicating a strong ability to service its debt, which may contribute to investor confidence. Furthermore, institutional investors have increased their stake by 0.72% in the last quarter, suggesting growing confidence in the company's fundamentals.
In the broader market context, the stock's performance over the past week shows a decline of 0.59%, while the benchmark Sensex has fallen by 1.03%, indicating that Nava Ltd has outperformed the market in the short term. Over the past month, the stock has gained 0.51%, contrasting with the Sensex's decline of 3.24%. This relative strength in performance, coupled with increasing institutional participation, suggests that while there may be short-term volatility, the overall outlook for Nava Ltd remains positive compared to the broader market trends.