Why is Evans Electric falling/rising?

As of 10-Oct, Evans Electric Ltd is experiencing a price increase, currently at Rs 170.00, reflecting a rise of Rs 15.0 or 9.68%. The stock has shown strong performance today, outperforming its sector by 9.2%, and has been on a consecutive gain streak for the last three days, accumulating a total return of 19.72% during this period. Additionally, the stock's performance over the past week and month has been positive, with returns of 8.97% and 4.71%, respectively. The stock is currently trading above its 5-day, 20-day, 50-day, and 200-day moving averages, indicating a bullish trend, although it remains below the 100-day moving average. Rising investor participation is evident, with delivery volume increasing by 73.08% compared to the 5-day average, suggesting heightened interest in the stock.
In the broader market context, Evans Electric's short-term performance significantly outpaces the benchmark Sensex, which has only increased by 1.59% over the past week and 1.32% over the past month. While the stock has underperformed year-to-date with a decline of 5.63%, its one-year return of 28.16% and impressive three-year return of 660.20% highlight its long-term growth potential. The liquidity of the stock is also favorable, as it is liquid enough for trading sizes, which may contribute to its recent upward momentum. Overall, the combination of strong recent performance, increased investor interest, and favorable trading conditions has led to the current rise in Evans Electric's stock price.