Why is Cupid falling/rising?

As of 18-Jul, Cupid Ltd's stock price is currently at Rs. 146.85, reflecting an increase of Rs. 13.2 or 9.88%. The stock has recently hit a new 52-week high of Rs. 148.45 and has shown strong performance, gaining 12.66% over the last two days. Over the past week, Cupid has outperformed the Sensex with a return of 24.08% compared to the benchmark's decline of 0.90%. Additionally, the stock has generated impressive returns of 93.71% year-to-date and 73.73% over the past year, indicating a robust long-term performance. However, there is a noted decline in investor participation, with delivery volume dropping by 50.5% against the five-day average, which could signal potential caution among investors.
In the broader market context, Cupid's recent performance stands out significantly against the Sensex, which has only gained 4.63% year-to-date. The stock's ability to consistently outperform the market over various time frames, including a remarkable 1185.34% increase over the past three years, highlights its strong market position. Despite the falling investor participation, Cupid's low debt-to-equity ratio and its market-beating performance in both the short and long term suggest that the stock remains a compelling investment, contributing to its rising price.