Why is Tega Inds. falling/rising?

As of 18-Jul, Tega Industries Ltd is experiencing a price increase, currently at Rs 1,940.35, reflecting a rise of Rs 40.35 or 2.12%. The stock has shown strong performance today, outperforming its sector by 2.77% and reaching an intraday high of Rs 1,955.05, which is a 2.9% increase. Over the past week, Tega Industries has gained 14.12%, and its one-month return stands at 32.00%, significantly outperforming the Sensex, which has seen a decline of 0.90% in the same period. The company has demonstrated high management efficiency with a return on capital employed (ROCE) of 19.37% and a low debt-to-equity ratio, contributing positively to investor sentiment. Additionally, the company reported its highest operating profit to interest ratio and net sales in the latest quarter, further bolstering confidence among investors.
In the broader market context, Tega Industries' strong short-term performance contrasts sharply with the Sensex, which has only increased by 0.38% over the last month. Despite a significant drop in delivery volume by 66.91% compared to the five-day average, the stock remains liquid enough for trading, indicating continued interest from institutional investors, who hold 20.49% of the stock. This high institutional ownership suggests that informed investors are confident in the company's fundamentals, which has helped maintain the stock's upward trajectory amidst broader market fluctuations. Overall, Tega Industries' consistent returns over the past three years and its ability to outperform the BSE500 in annual periods have contributed to its rising stock price.