Why is Esconet falling/rising?

As of 01-October, Esconet Technologies Ltd is experiencing a price increase, currently at 265.20, reflecting a rise of 12.6 or 4.99%. The stock has shown strong performance recently, with a 1-week return of +15.66% compared to the Sensex's -0.88%, and a remarkable 1-month return of +49.20% against the benchmark's +0.86%. Additionally, Esconet is trading above all its moving averages, indicating a positive trend. However, there has been a decline in investor participation, with delivery volume falling by 7.88% against the 5-day average, which may suggest some caution among investors despite the stock's upward movement.
In the broader market context, while Esconet has outperformed the sector today by 4.24%, its year-to-date performance remains negative at -23.03%, contrasting with the Sensex's positive return of +5.04%. This indicates that while the stock is currently gaining momentum, it has struggled over a longer time frame. The significant short-term gains may not yet reflect a broader recovery, as the stock has underperformed over the past year with a decline of -46.23% compared to the Sensex's -3.72%. Overall, the recent price rise appears to be driven by short-term trading dynamics rather than a fundamental turnaround in the company's longer-term performance.