Why is Simplex Castings falling/rising?

As of 02-Jul, Simplex Castings Ltd is experiencing a price increase, currently at Rs. 359.60, reflecting a rise of Rs. 15.6 or 4.53%. The stock has recently hit a new 52-week high of Rs. 359.65 and has outperformed its sector by 3.46%. Despite opening with a loss of 2.38% today, it has gained 7.33% over the last two days. The stock is trading above all its moving averages, indicating a strong upward trend. The company has reported impressive financial growth, including a 184.92% increase in net profit and consistent positive results over the last four quarters, which has contributed to its strong performance and investor confidence.
In the broader market context, Simplex Castings has outperformed the Sensex significantly, with a 1-week return of 8.97% compared to the Sensex's 0.79%, and a year-to-date return of 14.14% versus the Sensex's 6.75%. This strong performance relative to the benchmark, combined with the company's robust financial metrics and a favorable valuation compared to peers, supports the stock's rising price. However, it is important to note that there has been a decline in investor participation, with delivery volume falling by 25.68% against the 5-day average, which could be a concern for future price stability.