Why is Pradeep Metals falling/rising?

As of 14-Jul, Pradeep Metals Ltd. is experiencing a rise in its stock price, currently at Rs. 353.10, reflecting an increase of Rs. 5.95 or 1.71%. The stock has recently hit a new 52-week high of Rs. 357.5 and has shown strong performance, gaining 6.87% over the last two days. It has outperformed its sector by 2.57% today and is trading above all its moving averages, indicating a positive trend. Additionally, the stock has demonstrated impressive returns over various periods, including a 42.35% increase over the past year and a staggering 255.23% over the last three years. The company's return on capital employed (ROCE) stands at 18.2, and its valuation appears fair compared to peers, contributing to investor confidence.
In the broader market context, Pradeep Metals has significantly outperformed the benchmark Sensex, which has declined by 1.42% over the past week while the stock has surged by 17.02%. This strong performance relative to the market indicates robust investor interest, supported by a notable increase in delivery volume, which rose by 95.05% against the 5-day average. The stock's consistent returns and its ability to outperform the BSE500 over the last three years further reinforce its attractiveness to investors, despite a PEG ratio of 1 suggesting that it is fairly valued in relation to its earnings growth.