Why is Haryana Leather falling/rising?

As of 19-Sep, Haryana Leather Chemicals Ltd is experiencing a slight increase in its stock price, currently at 85.50, reflecting a change of 0.5 or 0.59% upward. The stock has shown strong performance over the past week with a return of +4.27%, significantly outperforming the Sensex, which only gained +0.88%. Over the past month, the stock has surged by +35.93%, while the Sensex has risen by just +1.20%. However, despite this recent upward trend, there has been a decline in investor participation, with delivery volume falling by -7.92% compared to the 5-day average, indicating a potential concern regarding sustained interest. The stock is currently trading above all its moving averages, suggesting a positive technical outlook.
In the broader market context, Haryana Leather's short-term performance has been notably stronger than the benchmark, as evidenced by its 1-week return compared to the Sensex. While the stock has had a challenging year-to-date performance at -0.63%, it has significantly outperformed the benchmark over the last three and five years, with returns of +122.08% and +242.00%, respectively. This long-term strength contrasts with the current year’s performance and the recent dip in delivery volumes, which may suggest a need for cautious optimism among investors. Overall, while the stock is rising, the decrease in investor participation could pose risks to its upward momentum.