Why is Rainbow Foundat. falling/rising?

As of 17-Jul, Rainbow Foundations Ltd is experiencing a price increase, currently at Rs 107.66, reflecting a rise of Rs 2.11 or 2.0%. The stock has reached a new 52-week and all-time high today, and it has been on a consecutive gaining streak for the last six days, accumulating a total return of 12.58% during this period. Additionally, the company has shown impressive performance metrics, including a net profit growth of 151.95% and positive results for the last eight consecutive quarters, which have contributed to its strong upward momentum. The stock is also trading above all key moving averages, indicating a robust bullish trend.
In the broader market context, Rainbow Foundations Ltd has significantly outperformed the Sensex, with a 1-week return of +10.38% compared to the benchmark's -1.12%. Over the past year, the stock has delivered an extraordinary return of 286.15%, while the Sensex has only increased by 1.91%. Despite a recent decline in investor participation, as indicated by a drop in delivery volume, the overall positive financial results and consistent returns over the past three years have solidified investor confidence, driving the stock's price higher.