Why is Colorchips New falling/rising?

As of 17-Nov, Colorchips New Media Ltd's stock price is currently at Rs. 17.00, reflecting an increase of Rs. 2.3, or 15.65%. The stock has shown significant volatility today, opening with a gain of 4.76% and reaching an intraday high of Rs. 17.49, which is an 18.98% increase. However, it also touched a new 52-week low of Rs. 12.31 earlier in the day. Over the past week, the stock has outperformed its sector by 14.79% and has recorded a 1-month return of 17.40%, despite a year-to-date decline of 35.68%. There is a noted decrease in investor participation, with delivery volume falling by 54.41% against the 5-day average, which may indicate a lack of confidence among investors.
Broader market context shows that while Colorchips has experienced a strong short-term performance, the benchmark Sensex has only increased by 1.69% over the same week. This suggests that the stock's recent rise is not entirely reflective of broader market trends, as it has significantly outperformed the benchmark in the short term. However, the stock's year-to-date performance remains concerning, with a decline of 35.68% compared to the Sensex's gain of 8.72%. This disparity highlights the challenges Colorchips faces in regaining investor confidence despite its recent price movements.