Why is Nelcast falling/rising?

As of 27-Oct, Nelcast Ltd. is experiencing a rise in its stock price, currently at 125.20, reflecting an increase of 5.2 or 4.33%. The stock has shown strong performance today, outperforming its sector by 3.37% and achieving a consecutive gain over the last five days, with a total return of 5.88% during this period. It opened with a gain of 2.13% and reached an intraday high of Rs 130.5, indicating positive momentum. Despite this, there has been a notable decline in investor participation, with delivery volume dropping by 64.7% against the five-day average. The stock's long-term growth prospects remain healthy, supported by a significant annual increase in operating profit and positive quarterly results, which have attracted institutional investors who have increased their stake by 0.8%.
In the broader market context, Nelcast's short-term return of 5.48% over the past week significantly outpaces the Sensex's return of 0.49% during the same period. However, the stock has underperformed over the past month, with a decline of 9.34% compared to the Sensex's gain of 5.41%. While the stock has generated a return of 14.92% over the past year, it is essential to note that its profits have only risen by 4%, leading to a PEG ratio of 6.8, which may indicate overvaluation concerns. Overall, the combination of recent positive performance, institutional interest, and healthy long-term growth prospects contributes to the stock's current upward movement.