Why is Triveni Turbine falling/rising?

As of 15-Jul, Triveni Turbine Ltd. is experiencing a price increase, currently at Rs 660.10, reflecting a rise of 11.55 points or 1.78%. The stock has shown strong performance today, outperforming its sector by 1.27% and achieving a consecutive gain over the last two days with a total return of 2.46%. It reached an intraday high of Rs 666, indicating positive momentum. Additionally, the stock has been trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Despite a decline in delivery volume by 41.62% compared to the 5-day average, the company maintains strong fundamentals, including a consistent record of positive quarterly results and a high return on equity of 23.08%, which supports investor confidence.
In the broader market context, Triveni Turbine's short-term return of 3.07% over the past week contrasts sharply with the Sensex, which has declined by 1.36% during the same period. This indicates that the stock is not only performing well relative to its own historical performance but also outperforming the broader market. The company's strong institutional holdings at 38.63% suggest that knowledgeable investors are backing the stock, further enhancing its stability and attractiveness. Overall, the combination of positive financial results, strong institutional support, and recent price movements contribute to the stock's upward trajectory.