Why is Onward Technolog falling/rising?

As of 10-Jul, Onward Technologies Ltd's stock price is rising, currently at Rs 343.00, reflecting an increase of Rs 23.00 or 7.19%. The stock has outperformed its sector by 7.82% today and has been on a consecutive gain streak for the last two days, accumulating a total return of 10.47% during this period. It opened with a gain of 4.06% and reached an intraday high of Rs 343. The stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong upward trend. 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 recent price increase. The rising promoter confidence, with a 0.8% increase in their stake, also signals a positive outlook for the company's future.
In the broader market context, Onward Technologies has shown a short-term return of +2.39% over the past week, while the benchmark Sensex has remained nearly flat with a change of -0.06%. Over the last month, the stock has gained +5.36%, outperforming the Sensex's +0.97% return. This trend suggests that investor sentiment towards Onward Technologies is more favorable compared to the overall market. Despite a year-over-year decline of -17.55% in stock returns, the recent positive developments in the company's financial performance and the increase in promoter stake may be contributing to a renewed interest among investors, leading to the current rise in stock price.