Why is Cupid falling/rising?

As of 22-Sep, Cupid Ltd's stock price is rising, currently at Rs. 218.00, which reflects an increase of Rs. 3.2 or 1.49%. The stock has recently hit a new 52-week high and has been gaining for the last two days, with a total return of 5.31% during this period. It is trading above all its moving averages, indicating strong upward momentum. Over the past week, Cupid has outperformed the Sensex, with a return of 5.03% compared to the benchmark's 0.46%. The company has demonstrated impressive performance with a 1-year return of 152.90%, significantly outperforming the BSE500 in the last three years. Positive financial results, including record net sales and profit before tax, along with a low debt-to-equity ratio, contribute to investor confidence and support the stock's upward movement.
In the broader market context, Cupid's short-term performance is notably strong compared to the Sensex, which suggests that investor sentiment is favoring Cupid over the general market trend. While the stock has shown robust gains, there is a noted decline in investor participation, with delivery volume falling by 27.38% against the 5-day average, which could indicate a potential concern for sustained momentum. Despite this, Cupid's liquidity remains adequate for trading, and its significant market capitalization positions it as a leader in its sector, accounting for nearly 40% of the industry. Overall, the combination of strong financial performance and market leadership is driving the stock's rise, even as some caution arises from decreasing trading volume.