Why is Nitin Castings falling/rising?

As of 24-Sep, Nitin Castings Ltd is experiencing a price increase, currently trading at 574.00, which reflects a rise of 10.05 or 1.78%. Today's performance indicates that the stock has outperformed its sector by 3.54% and has gained after two consecutive days of decline. However, it is important to note that the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a bearish trend in the longer term. Additionally, there has been a significant drop in investor participation, with delivery volume falling by 30.48% compared to the 5-day average. Despite a year-to-date decline of 17.41%, the company has shown healthy long-term growth with an operating profit growth rate of 68.52%, which may contribute to the stock's current upward movement.
Broader Market Context: In the context of the broader market, Nitin Castings has underperformed compared to the Sensex over the past month, with a decline of 14.20% against the benchmark's increase of 0.50%. This disparity highlights the stock's volatility and challenges in the short term. However, the company's low debt-to-equity ratio and attractive valuation, with a price-to-book value of 3.6, suggest that it may be trading at a fair value compared to its peers. While the stock has generated a negative return of 16.39% over the past year, the positive financial indicators from recent results, including the highest PBDIT and operating profit margins, may be contributing to a cautious optimism among investors, despite the overall negative sentiment reflected in its recent performance.