Why is Bluechip Tex Ind falling/rising?

As of 29-Oct, Bluechip Tex Industries Ltd is experiencing a price increase, currently at Rs 141.20, reflecting a rise of Rs 2.7 or 1.95%. The stock has shown a positive trend recently, gaining for the last two days with a total return of 2.8% during this period. It outperformed its sector by 1.06% today, reaching an intraday high of Rs 141.3. However, the stock has a mixed performance over longer periods, with a year-to-date decline of 25.17% and a 1-year drop of 5.43%. Notably, there has been a significant decrease in investor participation, with delivery volume falling by 84.64% against the 5-day average, which may indicate a lack of confidence among investors despite the recent price increase.
Broader Market Context: In comparison to the benchmark Sensex, which has increased by 0.68% over the past week and 5.76% over the past month, Bluechip Tex Industries Ltd has shown a 6.01% gain over the last month, suggesting it is performing slightly better than the broader market in the short term. However, the stock's year-to-date performance is significantly lagging behind the Sensex's 8.78% increase, indicating that while there may be short-term gains, the stock has struggled to maintain momentum in the longer term. The overall liquidity remains adequate for trading, but the declining delivery volume could pose challenges for sustained price increases moving forward.