Why is Niraj Cement falling/rising?

As of 19-Nov, Niraj Cement Structurals Ltd has experienced a price increase, currently trading at Rs 36.68, reflecting a rise of 3.33 or 9.99%. The stock has outperformed its sector today by 10.01% and has shown a consecutive gain over the last two days, with a total return of 11.49% during this period. It opened with a significant gain of 6.36% and reached an intraday high of Rs 36.68. Despite this positive movement, there has been a notable decline in investor participation, with delivery volume falling by 43.5% compared to the 5-day average. The company has demonstrated strong financial performance, with a remarkable growth in net profit of 781% and operating profit growth at an annual rate of 104.68%. This has contributed to a favorable valuation, as the stock is trading at a fair value relative to its peers.
In the broader market context, Niraj Cement's short-term performance has significantly outpaced the Sensex, which only increased by 0.85% over the past week. The stock's 1-week return of 13.67% and 1-month return of 16.26% further highlight its strong performance relative to the benchmark. However, it is important to note that the stock has underperformed over the longer term, with a year-to-date decline of 48.95% compared to the Sensex's gain of 9.02%. This contrast indicates that while the stock is currently experiencing a positive momentum, it has faced substantial challenges in the past year, which investors should consider when evaluating its future potential.