Why is Pradeep Metals falling/rising?

As of 30-Jun, Pradeep Metals Ltd. is experiencing a price increase, currently at Rs 289.95, which reflects a rise of Rs 9.95 or 3.55%. The stock opened with a gain of 3.57% today and reached an intraday high of Rs 290. It has been trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong upward trend. Over the past week, the stock has outperformed the Sensex, with a return of 8.39% compared to the benchmark's 2.09%. Additionally, the stock has shown impressive returns over longer periods, including a 21.37% increase over the past year and a remarkable 238.53% over the last three years. Despite a significant drop in delivery volume, the stock's attractive valuation, with a return on capital employed (ROCE) of 18.2 and a PEG ratio of 0.8, suggests it is trading at a discount compared to its peers, contributing positively to its recent price movement.
In the broader market context, Pradeep Metals' short-term performance has significantly outpaced the Sensex, which has only gained 2.09% over the past week. This strong performance relative to the benchmark indicates robust investor confidence in the stock. The company's consistent returns over the last three years, along with a 22% increase in profits over the past year, further bolster its appeal. The presence of majority shareholders as promoters also adds a layer of stability and confidence in the company's governance, which can positively influence investor sentiment and contribute to the stock's rising price.