Why is Nova Iron &Steel falling/rising?

As of 13-Aug, Nova Iron & Steel Ltd's stock price is currently at Rs 15.20, reflecting an increase of Rs 1.01, or 7.12%. The stock has shown a positive trend today, gaining after two consecutive days of decline and outperforming its sector by 6.1%. It reached an intraday high of Rs 15.4, indicating strong performance within the trading day. Additionally, the stock's delivery volume has increased by 16.74% compared to the five-day average, suggesting rising investor participation. However, the stock's year-to-date performance remains negative at -13.83%, and it has underperformed the benchmark Sensex over the past year, which has seen a modest gain of 2.01%.
In the broader market context, while Nova Iron & Steel has experienced a short-term gain of 4.83% over the past week, the benchmark Sensex has remained relatively flat with a change of -0.01%. This indicates that the stock's recent rise is not reflective of a broader market trend but rather specific to the company. Despite the positive movement today, the stock's longer-term performance shows significant declines, with a 26.61% drop over the past year, contrasting sharply with the Sensex's positive trajectory. The stock's moving averages indicate it is performing better than shorter-term averages but still lags behind the 200-day moving average, suggesting potential volatility ahead.