Why is SRM Contractors falling/rising?

As of 18-Aug, SRM Contractors Ltd is experiencing a price increase, currently at Rs 491.65, reflecting a rise of Rs 21.75 or 4.63%. The stock has outperformed its sector by 4.21% today and has shown a trend reversal after two consecutive days of decline. It reached an intraday high of Rs 498.4, indicating strong momentum. Over the past week, the stock has gained 3.33%, although it has seen a decline of 4.50% over the past month. Notably, the company has reported impressive growth in its financials, with net sales increasing by 127.34% and profit after tax soaring by 236.65% in the latest six months. This robust performance is supported by a low debt-to-equity ratio and a high return on equity of 20, contributing to an attractive valuation.
In the broader market context, while the stock has generated a remarkable return of 78.78% over the past year, the benchmark index, Sensex, has only returned 1.04% during the same period. This significant outperformance highlights the stock's resilience and appeal to investors despite a recent dip in delivery volume, which fell by 8.01% against the five-day average. The stock's liquidity remains sufficient for trading, indicating continued interest from investors. Overall, the combination of strong financial results, positive market sentiment, and a favorable valuation has contributed to the stock's upward movement.