Why is Nelcast falling/rising?

As of 22-Jul, Nelcast Ltd. is experiencing a price increase, currently at Rs. 167.20, reflecting a rise of Rs. 13.0 or 8.43%. The stock has recently hit a new 52-week high of Rs. 168.95 and has shown strong performance, gaining 18.16% over the last three days. It has outperformed its sector by 9.67% today and is trading above all key moving averages, indicating a bullish trend. Additionally, the stock has demonstrated significant investor interest, with delivery volume increasing by 330.58% compared to the five-day average. Positive financial results declared by the company, including a 112.5% growth in PAT and a low debt-equity ratio of 0.53, contribute to its attractive valuation, despite a year-over-year profit decline of 13.6%.
In the broader market context, Nelcast's short-term performance stands in stark contrast to the benchmark Sensex, which has seen a slight decline of 0.47% over the past week. While the stock has generated a return of 19.90% over the past month, the Sensex has only managed a marginal decrease of 0.27%. This outperformance highlights Nelcast's resilience and investor confidence, particularly as it has consistently beaten the BSE500 index over various time frames, including the last three years. The combination of strong recent gains, positive financial indicators, and a favorable market position suggests that Nelcast is well-positioned for continued growth.