Why is Indokem falling/rising?

As of 27-Oct, Indokem Ltd's stock price is rising, currently at Rs. 622.15, reflecting an increase of Rs. 29.6 or 5.0%. The stock has reached a new 52-week and all-time high today, outperforming its sector by 5.39%. It has shown a strong performance over the past week with a gain of 15.74% and has consistently risen for the last five days. Additionally, the stock is trading above its moving averages across multiple time frames, indicating a bullish trend. However, there has been a decline in investor participation, with delivery volume falling by 15.97% against the 5-day average, which could suggest a potential concern for sustained momentum.
In the broader market context, Indokem's short-term performance significantly outpaces the benchmark Sensex, which has only increased by 0.49% over the past week. Over the past month, Indokem has achieved a return of 22.52%, compared to the Sensex's 5.41%. This substantial outperformance highlights strong investor interest in Indokem, despite the noted decrease in delivery volume. Overall, while the stock is experiencing a positive price movement, the drop in trading volume may warrant attention as it could impact future price stability.