Why is Nitin Castings falling/rising?

As of 22-Sep, Nitin Castings Ltd is currently priced at Rs 582.80, reflecting an increase of Rs 4.3 or 0.74%. The stock has shown a positive trend recently, gaining for three consecutive days with a total return of 1.94% during this period. However, it opened the day with a loss of 2.33%, touching an intraday low of Rs 565. Despite this, the stock has outperformed its sector by 1.64%. Over the past week, it has increased by 1.52%, although it has experienced a significant decline of 12.88% over the past month. The company has a low debt-to-equity ratio and has demonstrated healthy long-term growth, with operating profit increasing at an annual rate of 68.52%. Despite a year-over-year return of -14.29%, the stock is trading at a fair value compared to its peers, supported by strong operating profit metrics.
In the broader market context, Nitin Castings' short-term performance has outpaced the Sensex, which has only risen by 0.46% over the same week. However, the stock's year-to-date performance is notably poor, down 16.14% compared to the Sensex's gain of 5.15%. This suggests that while the stock is currently experiencing a short-term recovery, it has struggled significantly over a longer time frame. The decline in investor participation, indicated by a 4.59% drop in delivery volume, may also be a concern for future performance. Overall, while there are positive indicators for Nitin Castings, the mixed performance metrics suggest a cautious outlook.