Why is T N Petro Prod. falling/rising?

As of 23-Oct, Tamil Nadu Petro Products Ltd is experiencing a price increase, currently at Rs 113.40, which reflects a rise of Rs 4.8 or 4.42%. The stock has shown strong performance recently, gaining 6.83% over the last three days and outperforming its sector by 3.76% today. Although it opened lower, down 3.22%, it reached an intraday high of Rs 114. The stock is also trading above its moving averages across various time frames, indicating a positive trend. Additionally, the company has reported impressive financial results, with a higher PAT and net sales, and has a low debt-to-equity ratio, which supports its stability. Furthermore, institutional investors have increased their stake, suggesting growing confidence in the company's fundamentals.
In the broader market context, Tamil Nadu Petro Products Ltd has significantly outperformed the benchmark, with a return of 38.77% over the past year compared to the BSE500's 3.59%. This strong performance is further highlighted by its 6.78% increase over the past month, while the Sensex has only risen by 2.99%. Despite a recent decline in investor participation, the stock's liquidity remains adequate for trading, and the overall market sentiment appears favorable, contributing to the stock's upward movement.