Why is Nazara Technolo. falling/rising?

As of 01-Oct, Nazara Technologies Ltd is experiencing a price increase, currently at Rs 278.60, which reflects a rise of Rs 23.8 or 9.34%. Today's performance indicates a positive trend, as the stock has outperformed its sector by 8.59% and has gained after two consecutive days of decline. The stock reached an intraday high of Rs 280.95, showcasing significant volatility with a wide trading range of Rs 28.95. Over the past year, Nazara has generated a return of 11.62%, significantly outperforming the broader market, which has seen negative returns of -3.90%. Additionally, the company has reported strong financial results, including a 22.9% growth in net sales and high institutional holdings at 22.79%, which may contribute to investor confidence despite concerns over low profitability indicated by a return on equity of only 3.54%.
In the broader market context, while the stock has shown a short-term return of -0.23% over the past week, it has still managed to outperform the benchmark Sensex, which declined by 0.90% during the same period. This relative strength may attract further investor interest, particularly given the rising delivery volume, which increased by 134.31% compared to the five-day average. However, the stock's long-term growth prospects are tempered by a concerning annual decline in operating profit and a high PEG ratio of 7.3, suggesting that while the stock is currently rising, there are underlying risks that could affect its future performance.