Why is Bharti Hexacom falling/rising?

As of 13-Oct, Bharti Hexacom Ltd's stock price is rising, currently at Rs 1,789.40, reflecting an increase of Rs 37.6 or 2.15%. The stock has been on an upward trend, gaining for the last three days with a total return of 2.75% during this period. It has outperformed its sector by 1.91% today and is trading above all key moving averages, indicating strong momentum. Over the past week, the stock has appreciated by 7.19%, significantly outpacing the Sensex, which only rose by 0.66%. The company has demonstrated healthy long-term growth, with operating profit increasing at an annual rate of 77.97%, and it has reported positive results for the last four consecutive quarters, contributing to investor confidence.
In the broader market context, while the stock has shown impressive returns, the benchmark BSE500 has experienced negative returns of -1.73% over the past year, highlighting Bharti Hexacom's market-beating performance with a 23.93% return during the same period. However, there is a note of caution as investor participation has declined, with delivery volume dropping significantly by 82.9% against the five-day average. Despite this, the stock remains liquid enough for trading, suggesting that while the stock is currently rising, there are underlying risks related to valuation and declining participation that investors should consider.