Why is Simplex Castings falling/rising?

As of 01-Jul, Simplex Castings Ltd is experiencing a price increase, currently at Rs 344.00, which reflects a rise of Rs 8.95 or 2.67%. The stock has shown strong performance today, outperforming its sector by 3.86% and reaching an intraday high of Rs 349.8, which is 4.4% higher than its previous close. Additionally, the stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive trend. Over the past week, the stock has gained 7.15%, and over the past year, it has delivered an impressive return of 69.58%, significantly outpacing the benchmark Sensex, which has only increased by 5.31%. The company has also reported substantial growth in net profit and sales, with a 184.92% increase in net profit and a record net sales of Rs 67.10 crore, contributing to a favorable outlook.
In the broader market context, Simplex Castings' recent performance is particularly noteworthy as it has consistently outperformed the BSE500 index over the last three years, with a staggering 884.26% return over three years compared to the benchmark's 58.19%. This strong performance, coupled with rising investor participation and liquidity, suggests a robust demand for the stock. The company's fair valuation, indicated by a PEG ratio of 0 and a significant growth in profits, further supports investor confidence. Overall, the combination of positive financial results, consistent returns, and favorable market conditions has contributed to the stock's upward movement.