Why is Chandrima Mercan falling/rising?

As of 23-Oct, Chandrima Mercantiles Ltd is experiencing a price increase, with its current price at Rs. 8.59, reflecting a change of 0.16 or 1.9% upward. The stock has hit a new 52-week high today and has been on a consecutive gaining streak for the last 15 days, resulting in an impressive return of 84.8% during this period. Additionally, the stock has significantly outperformed the sector by 1.76%. Over various time frames, the stock has shown remarkable returns, including a 105.94% increase over the past month and a staggering 2698.96% over the last three years. However, it is important to note that there has been a decline in investor participation, with delivery volume dropping by 86.11% compared to the five-day average.
In the broader market context, Chandrima Mercantiles Ltd's short-term performance is notably strong, as it has achieved a 7.91% return over the past week, significantly outpacing the Sensex, which only increased by 1.30% during the same period. This indicates that the stock is not only performing well on its own but is also gaining traction relative to the overall market. The liquidity of the stock remains adequate for trading, with a value based on 2% of the five-day average traded value. Overall, the combination of strong returns, a new high, and consistent performance contributes to the rising stock price, despite the noted decrease in delivery volume.