Why is One 97 falling/rising?

As of 11-Aug, One 97 Communications Ltd is experiencing a price increase, currently at Rs 1,122.25, reflecting a rise of 60.05 or 5.65%. The stock has reached a new 52-week high of Rs 1,128.5 today, outperforming its sector by 4.96%. Over the past week, the stock has gained 4.08%, and it has shown impressive performance over the last month with a 17.91% increase. Despite a significant drop in delivery volume by 53.2% compared to the 5-day average, the stock is trading above all major moving averages, indicating strong momentum. Additionally, the company has demonstrated robust financial health, with a 137.8% growth in PAT and record net sales, contributing to a strong long-term outlook.
In the broader market context, while the BSE500 index has generated negative returns of -1.85% over the past year, One 97 Communications has significantly outperformed with a remarkable 119.08% return. This stark contrast highlights the stock's resilience and appeal among investors, particularly institutional investors who hold 70.7% of the stock and have increased their stake. The strong fundamentals, coupled with the company's recent positive financial results, have likely bolstered investor confidence, contributing to the stock's upward movement despite a decline in trading volume.