Why is Refex Industries falling/rising?

As of 25-Jun, Refex Industries Ltd is experiencing a price increase, currently at Rs 471.35, reflecting a rise of Rs 8.25 or 1.78%. The stock has shown a positive performance today, outperforming its sector by 1.75% and has been on a consecutive gain streak for the last two days, accumulating a total return of 5.17% during this period. The stock's performance over the past week has also been strong, with a return of 1.80%, and it has significantly outperformed the benchmark Sensex over the last month with a return of 16.17% compared to the benchmark's 1.27%. The company has demonstrated robust financial health, evidenced by a low Debt to EBITDA ratio of 0.67 times and strong growth in net sales, which increased by 83.37% in the last quarter. This consistent performance, along with positive results over the last four quarters, has contributed to the stock's upward movement.
In the broader market context, Refex Industries has outperformed the Sensex in the short term, with a 1-week return of 1.80% compared to the benchmark's 1.61%. Despite the stock's recent gains, there is a noted decline in investor participation, as delivery volume has fallen by 7.61% against the 5-day average, which may indicate a potential concern for future liquidity. However, the stock remains liquid enough for trading, with a trading value of Rs 0.27 crore based on 2% of the 5-day average. Overall, while the stock is currently rising due to strong fundamentals and recent performance, the decrease in investor participation could pose challenges ahead.