Why is Uday Jewellery falling/rising?

As of 20-Jun, Uday Jewellery Industries Ltd is experiencing a price increase, currently at Rs 158.00, reflecting a rise of Rs 11.2 or 7.63%. The stock opened with a gain of 2.79% today and reached an intraday high of Rs 160, indicating strong positive momentum. Over the past week, the stock has outperformed the sector by 7.26%, and it has shown consistent upward movement, trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. The company has reported significant growth in net profit and sales, with a net profit increase of 1616.67% and a PAT growth of 88.81% over the last six months, contributing to positive investor sentiment. Additionally, the low debt-to-equity ratio and attractive valuation compared to peers further support the stock's upward trajectory.
In the broader market context, Uday Jewellery's short-term return of 4.98% over the past week significantly outpaces the Sensex, which has only increased by 1.59% during the same period. This strong performance relative to the benchmark suggests that investor confidence in Uday Jewellery is robust, likely driven by its recent positive financial results and growth metrics. Despite concerns regarding long-term growth due to a slower annual operating profit increase of 9.44% over the last five years, the current positive trends and rising investor participation indicate a favorable outlook for the stock in the short term.