Why is Ultramarine Pig. falling/rising?

As of 18-Jul, Ultramarine & Pigments Ltd is experiencing a price increase, currently at Rs 563.00, reflecting a change of 2.95 (0.53%) upward. The stock has shown strong performance, gaining 10.74% over the past week and outperforming the sector by 0.77% today. It has been on a consecutive gain streak for five days, with an intraday high of Rs 576. The stock is trading above its moving averages across various time frames, indicating positive momentum. Additionally, the company has reported significant growth in net profit and sales, with a 56.58% increase in net profit and a strong return on equity of 7.7, contributing to its attractive valuation. However, there are concerns regarding its long-term growth potential, as operating profit has only grown at an annual rate of 9.05% over the last five years, and domestic mutual funds hold no stake in the company.
In the broader market context, Ultramarine & Pigments Ltd has outperformed the benchmark, as the BSE500 has generated negative returns of -0.36% over the past year while the stock has achieved a return of 25.38%. This stark contrast highlights the stock's resilience and market-beating performance despite broader market challenges. The company's strong financial results and rising investor participation, evidenced by a significant increase in delivery volume, further support the stock's upward movement.