Why is Covance Softsol falling/rising?

As of 22-Jul, Covance Softsol Ltd's stock price is rising, currently at Rs. 23.97, reflecting an increase of 0.47 or 2.0%. The stock has been on an upward trajectory, gaining for the last 21 days and achieving a remarkable 50.85% return during this period. It has also reached a new 52-week and all-time high today. The stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating strong momentum. Additionally, the company has demonstrated healthy long-term growth, with net sales increasing at an annual rate of 66.30% and operating profit soaring by 1081.00%. Despite a flat result reported in March 25, the stock's attractive valuation, characterized by a low debt-to-equity ratio and a price-to-book value of 0.4, has contributed positively to investor sentiment.
In the broader market context, Covance Softsol's performance stands out significantly against the benchmark, as it has gained 10.36% over the past week while the Sensex has declined by 0.47%. Over the past month, the stock has surged by 53.85%, contrasting sharply with the Sensex's slight decrease of 0.27%. This strong performance relative to the benchmark reflects rising investor participation, evidenced by a 163.16% increase in delivery volume compared to the 5-day average. The stock's liquidity also supports its trading activity, further enhancing its appeal to investors amidst a generally flat market environment.