Why is Permanent Magnet falling/rising?

As of 21-Aug, Permanent Magnets Ltd's stock price is rising, currently at 1,068.20, reflecting an increase of 70.2 points or 7.03%. The stock has recently hit a new 52-week high of Rs. 1080 and has been on an upward trend, gaining 11.4% over the last five days. It has outperformed its sector by 6.48% today and opened with a gain of 2.1%. The stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating strong momentum. Additionally, the company has a low debt-to-equity ratio of 0.03, which contributes positively to investor confidence. The stock has also shown impressive long-term performance, with a 201.28% increase over the last three years and a 10.59% rise year-to-date.
In the broader market context, Permanent Magnets Ltd's recent performance is significantly better than the benchmark, as it has returned 9.76% over the past week compared to the Sensex's 1.74%. This trend of outperformance continues in the one-month and year-to-date comparisons, where the stock has also surpassed the benchmark returns. The rising investor participation, evidenced by a 91.36% increase in delivery volume, further supports the stock's upward movement. Overall, the combination of strong recent performance, positive investor sentiment, and favorable market conditions contributes to the stock's rising price.