Why is Anand Rayons falling/rising?

As of 02-Sep, Anand Rayons Ltd's stock price is currently at Rs. 321.50, reflecting an increase of Rs. 4.55 or 1.44%. The stock has been on an upward trend, gaining for the last five days and achieving a total return of 6.3% during this period. It also reached a new 52-week and all-time high of Rs. 321.95 today. Despite opening with a loss of 2.82% and touching an intraday low of Rs. 308, the stock has shown resilience, trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Additionally, there has been a notable increase in investor participation, with delivery volume rising by 54.37% against the 5-day average, indicating strong interest in the stock.
In the broader market context, Anand Rayons has significantly outperformed the Sensex, with a 1-week return of 6.11% compared to the benchmark's decline of 0.78%. Over the past month, the stock has risen by 9.28%, while the Sensex has decreased by 0.55%. Year-to-date, Anand Rayons boasts an impressive return of 113.62%, contrasting sharply with the Sensex's modest gain of 2.58%. This strong performance relative to the benchmark suggests that investor sentiment remains positive towards Anand Rayons, despite some short-term volatility.