Why is Uday Jewellery falling/rising?

As of 11-Jul, Uday Jewellery Industries Ltd is experiencing a rise in its stock price, currently at 160.00, with an increase of 1.0 (0.63%). The stock has shown positive momentum, gaining for the last two days with a total return of 2.56% during this period. It outperformed its sector by 2.48% today and reached an intraday high of Rs 162.45. Despite a recent decline in delivery volume, which fell by 66.9% against the 5-day average, the company has demonstrated strong financial performance, including a remarkable 1616.67% growth in net profit and a significant increase in net sales and profit after tax. The stock is trading at a discount compared to its peers, which may attract investors looking for value.
In the broader market context, the stock's performance over the past month shows a gain of 6.67%, while the benchmark Sensex has remained nearly flat at -0.02%. Although Uday Jewellery's one-week return is down by 1.84%, its longer-term performance is strong, with a one-year return of 11.89% compared to the Sensex's 3.26%. This indicates that while there may be short-term fluctuations, the stock has been able to outperform the market over a longer horizon, which could contribute to investor confidence and support its rising price.