Why is Ashoka Metcast falling/rising?

As of 07-Aug, Ashoka Metcast Ltd's stock price is currently at Rs 18.30, reflecting an increase of Rs 1.46 or 8.67%. The stock has shown a positive trend today, gaining after two consecutive days of decline and outperforming its sector by 9.39%. It reached an intraday high of Rs 18.63, indicating strong intraday performance. However, despite this rise, the stock has experienced a significant decline year-to-date, down 22.72%, although it has shown impressive gains over the longer term, with a 123.17% increase over the past three years and a staggering 792.68% over five years. Notably, there has been a sharp decrease in investor participation, with delivery volume dropping by 92.12% against the five-day average, which may indicate waning interest despite today's price increase.
In the broader market context, Ashoka Metcast's short-term performance has been notably better than the benchmark Sensex, which has declined by 0.69% over the past week while the stock itself has risen by 4.63%. This divergence suggests that the stock is gaining traction among investors even as the overall market faces challenges. The stock's liquidity remains adequate for trading, but the falling delivery volume could be a concern for sustained upward momentum. Overall, while the stock is currently rising, the significant drop in investor participation and the broader market's negative performance may pose risks to its continued growth.