Why is Uday Jewellery falling/rising?

As of 01-Jul, Uday Jewellery Industries Ltd is experiencing a rise in its stock price, currently at Rs 162.45, reflecting an increase of Rs 4.45 or 2.82%. The stock has shown strong performance recently, outperforming its sector by 2.42% today and achieving a consecutive gain over the last two days with a total return of 7.19%. It reached an intraday high of Rs 167.75, although it also touched a low of Rs 153.7 during the day. The stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive trend. Despite a decrease in delivery volume by 19.62% compared to the 5-day average, the company has reported impressive financial growth, including a 1616.67% increase in net profit and a significant rise in net sales, contributing to its favorable valuation and market performance.
In the broader market context, Uday Jewellery's short-term return of 7.44% over the past week significantly outpaces the Sensex's return of 2.00% for the same period. The stock has generated a 14.04% return over the past year, which is notably higher than the broader market's return of 3.20%. This strong performance, coupled with the company's low debt-to-equity ratio and attractive valuation metrics, suggests that Uday Jewellery is well-positioned in the market despite a slight decline in investor participation. Overall, the combination of positive financial results and market-beating performance contributes to the upward movement of the stock price.