Why is Steelcast falling/rising?

As of 22-Jul, Steelcast Ltd's stock price is rising, currently at Rs 1,211.85, reflecting an increase of Rs 28.05 or 2.37%. The stock has shown strong performance today, outperforming its sector by 3.61% and has been gaining for the last two days, accumulating a total return of 3%. It is also trading above its moving averages across various time frames, indicating positive momentum. Over the past year, Steelcast has delivered impressive returns of 89.92%, significantly outperforming the BSE500 index, and has shown consistent growth in key financial metrics, such as a 43.64% increase in profit before tax and a 22.75% rise in net sales. Additionally, the company has a low debt-to-EBITDA ratio of 0.35, which enhances its ability to service debt, and there has been an increase in institutional investor participation, suggesting growing confidence in the company's fundamentals.
In the broader market context, Steelcast's short-term performance has been notably strong, with a 1-week return of 1.00% compared to a decline of 0.47% in the Sensex. This divergence highlights the stock's resilience and attractiveness to investors amidst a generally weaker market. The stock's year-to-date return of 43.13% also contrasts sharply with the Sensex's modest gain of 5.18%, further underscoring Steelcast's robust performance relative to the broader market. Overall, the combination of strong financial results, increasing institutional interest, and favorable technical indicators contributes to the stock's upward movement.