Why is Tega Inds. falling/rising?

As of 07-Jul, Tega Industries Ltd's stock price is rising, currently at 1,756.50, reflecting an increase of 70.2 points or 4.16%. The stock has shown strong performance today, outperforming its sector by 4.4% and achieving a consecutive gain over the last eight days, resulting in a total return of 19.32% during this period. Additionally, the stock has been trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive trend. The company has also reported impressive financial results, with significant growth in profit before tax and profit after tax compared to previous quarters, alongside a high return on capital employed (ROCE) of 19.37%. Furthermore, the stock benefits from high institutional holdings at 20.49%, which suggests confidence from knowledgeable investors.
In the broader market context, Tega Industries Ltd has outperformed the benchmark Sensex over the past week, with a return of 13.11% compared to a slight decline of 0.20% for the index. Over the past month, the stock has also outperformed the Sensex, gaining 10.13% while the benchmark rose by 1.53%. This strong relative performance, combined with rising investor participation and liquidity, supports the stock's upward movement. Overall, the combination of positive financial results, strong institutional backing, and favorable market conditions contributes to the rising price of Tega Industries Ltd.