Why is Hemang Resources falling/rising?

As of 31-Oct, Hemang Resources Ltd is experiencing a price increase, currently at Rs 22.59, which reflects a rise of Rs 1.39 or 6.56%. The stock has shown a positive trend today, outperforming its sector by 7.36% and reversing a two-day decline. It reached an intraday high of Rs 22.9, indicating strong buying interest. Additionally, the stock's delivery volume has significantly increased by 143.79% compared to the 5-day average, suggesting rising investor participation. However, while the stock is currently above its 5-day, 20-day, and 50-day moving averages, it remains below its 100-day and 200-day moving averages, indicating mixed momentum over a longer timeframe. The stock's year-to-date performance shows a decline of 26.63%, contrasting with a 7.42% gain in the benchmark index, the Sensex.
In the broader market context, Hemang Resources' short-term performance over the past week shows a gain of 2.26%, while the Sensex has slightly declined by 0.32%. This indicates that the stock is currently outperforming the broader market, which may contribute to positive sentiment among investors. Despite its recent gains, the stock has struggled over the longer term, with a year-over-year decline of 23.94% compared to the Sensex's 5.73% increase. This disparity highlights the challenges Hemang Resources faces in regaining investor confidence, despite today's positive movement.