Why is Tega Inds. falling/rising?

As of 04-Jul, Tega Industries Ltd is experiencing a price increase, currently at Rs 1,686.30, reflecting a rise of Rs 82.8 or 5.16%. The stock has shown strong performance, gaining 14.55% over the last seven days and outperforming its sector by 4.74% today. It has also been trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive trend. Additionally, the company reported impressive quarterly results, with a PAT growth of 117.2% and net sales reaching Rs 536.11 crore, which has likely bolstered investor confidence. The high institutional holdings at 20.49% suggest that knowledgeable investors are backing the stock, further supporting its upward movement.
In the broader market context, Tega Industries has outperformed the Sensex over the past week, with a return of +11.22% compared to the benchmark's -0.74%. While the stock has a year-to-date return of +7.42%, it has underperformed over the past year with a decline of -4.41%, contrasting with the Sensex's +4.23%. This short-term outperformance, combined with rising investor participation and a favorable liquidity profile, indicates a strong demand for Tega Industries shares, contributing to the stock's current upward trajectory.