Why is Bondada Engineer falling/rising?

As of 23-Oct, Bondada Engineering Ltd is experiencing a price increase, currently at Rs 462.85, reflecting a rise of Rs 42.05 or 9.99%. The stock has shown strong performance today, outperforming its sector by 10.56% and opening with a gain of 2.45%. It reached an intraday high of Rs 462.85, and it is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. However, there is a notable decline in investor participation, with delivery volume falling by 23.32% against the 5-day average, indicating a potential concern for sustained momentum. The stock has performed well in the short term, with a 1-week return of 11.02% and a 1-month return of 14.88%, although it remains down 23.70% year-to-date.
In the broader market context, Bondada Engineering's recent performance significantly outpaces the Sensex, which has only increased by 1.30% over the past week and 2.99% over the past month. This indicates that while the stock is currently rising, it is doing so in a market environment that is relatively stable, suggesting that investor sentiment towards Bondada Engineering may be improving despite its negative year-to-date performance of 23.70%. The liquidity of the stock remains adequate for trading, which may also contribute to its upward price movement.