Why is Panchmahal Steel falling/rising?

As of 22-Sep, Panchmahal Steel Ltd's stock price is rising, currently at 299.95, reflecting an increase of 9.85 or 3.4%. The stock has shown strong performance today, having opened with a gain of 6.51% and reached an intraday high of Rs 309. It has outperformed its sector by 3.77%. Additionally, the stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bullish trend. The stock has also seen a significant increase in investor participation, with delivery volume rising by 289.48% against the 5-day average. Over the past year, Panchmahal Steel has delivered a remarkable return of 42.16%, significantly outperforming the Sensex, which has declined by 2.82%.
In the broader market context, Panchmahal Steel's short-term performance has been notably strong, with a 1-week return of 11.32% compared to the Sensex's modest gain of 0.46%. This indicates that the stock is not only rising in absolute terms but is also gaining traction relative to the overall market. The stock's year-to-date performance of 18.09% against the Sensex's 5.15% further underscores its robust position in the market. Overall, the combination of strong stock-specific factors and favorable comparisons to the benchmark suggests a positive sentiment surrounding Panchmahal Steel Ltd.