Why is Venus Pipes falling/rising?

As of 08-Jul, Venus Pipes & Tubes Ltd is experiencing a price increase, currently at Rs 1,570.50, reflecting a rise of Rs 70.5 or 4.7%. The stock has shown strong performance today, outperforming its sector by 4.96% and achieving a consecutive gain over the last three days with a total return of 9.43%. It reached an intraday high of Rs 1,608.8, indicating positive momentum. Additionally, the stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, which suggests a bullish trend. Despite a slight decline in delivery volume, the company's high management efficiency, strong debt servicing ability, and healthy long-term growth prospects contribute positively to its recent price movement. Furthermore, the increase in institutional holdings by 1.96% over the previous quarter indicates confidence from more sophisticated investors.
In the broader market context, Venus Pipes has significantly outperformed the benchmark Sensex in the short term, with a 1-week return of 15.11% compared to the Sensex's minimal increase of 0.02%. This stark contrast highlights the stock's strong performance relative to the overall market. Over the past month, Venus Pipes has also outpaced the Sensex, achieving a return of 10.20% against the benchmark's 1.85%. While the stock has faced challenges over the past year with a decline of 24.28%, its remarkable 3-year return of 359.55% suggests a strong recovery potential, further enhancing investor sentiment.