Why is Uday Jewellery falling/rising?

As of 15-Jul, Uday Jewellery Industries Ltd is experiencing a price increase, currently at Rs 158.25, reflecting a rise of Rs 5.0 or 3.26%. The stock has outperformed its sector today by 2.84%, reaching an intraday high of Rs 159.9. Over the past month, the stock has shown a positive return of 5.15%, while its year-to-date performance stands at 3.80%. The company has reported significant growth in net profit and net sales, with a remarkable 1616.67% increase in net profit and a 102.01% growth in net sales for the last quarter. However, there is a concern regarding falling investor participation, as the delivery volume has decreased slightly compared to the 5-day average.
In the broader market context, Uday Jewellery's short-term performance has been better than the benchmark, with a 1-week return of -0.75% compared to the Sensex's -1.36%. Despite the positive short-term movement, the stock's long-term growth is tempered by a relatively low operating profit growth rate of 9.44% over the past five years. The company's attractive valuation, indicated by a low debt-to-equity ratio and a PEG ratio of 1.8, suggests potential for further appreciation, especially as it trades at a discount compared to its peers. Overall, the combination of strong recent financial results and favorable valuation metrics supports the stock's upward movement, despite some concerns regarding long-term growth and investor engagement.