Why is Onward Technolog falling/rising?

As of 25-Jun, Onward Technologies Ltd is experiencing a price increase, currently at Rs 331.30, which reflects a rise of Rs 25.2 or 8.23%. The stock has shown a positive trend today, outperforming its sector by 6.65% and reversing a two-day decline. It reached an intraday high of Rs 334.65, indicating strong buying interest. Over the past week, the stock has gained 8.98%, and in the last month, it has risen by 11.64%. Additionally, the company has reported positive financial results, with a significant growth in profit after two consecutive negative quarters, which has likely contributed to the stock's upward movement. The increase in promoter stake by 0.8% also signals confidence in the company's future, further supporting the stock's rise.
In the broader market context, Onward Technologies' short-term performance has significantly outpaced the benchmark Sensex, which has only increased by 1.61% over the same week. This strong relative performance suggests that investor sentiment towards Onward Technologies is particularly positive compared to the overall market. The stock's liquidity is adequate, and the rising delivery volume indicates increased investor participation, which is a positive sign for future price stability. Despite a negative return of -16.99% over the past year, the recent positive developments and financial results have helped to bolster investor confidence, contributing to the current upward trend in the stock price.