Why is Omax Autos falling/rising?

As of 25-Jul, Omax Autos Ltd is experiencing a price increase, currently at 121.06, reflecting a rise of 8.56 or 7.61%. The stock has shown strong performance today, outperforming its sector by 9.02% and has gained consecutively for the last two days, accumulating a total return of 13.19% in this period. It opened with a significant gain of 17.8% and reached an intraday high of Rs 132.52. The stock is trading above its moving averages across various time frames, indicating positive momentum. Additionally, the company has reported positive results for the last 11 consecutive quarters, with a notable increase in profits and a very attractive valuation compared to its peers, which has likely contributed to the recent upward movement.
In the broader market context, Omax Autos has outperformed the Sensex over the past week, with a return of +7.49% compared to the benchmark's -0.36%. Over the past month, the stock has surged by 35.54%, while the Sensex has declined by 1.56%. This strong relative performance suggests that investor sentiment towards Omax Autos is favorable, particularly in light of its solid financial metrics, including a high return on capital employed and a low debt-equity ratio. The rising investor participation, as indicated by the significant increase in delivery volume, further supports the stock's upward trajectory.