Why is Karma Energy Ltd falling/rising?

As of 12-Jun, Karma Energy Ltd is experiencing a significant rise in its stock price, currently at Rs 83.52, reflecting an increase of 13.92 or 20.0%. The stock has shown impressive performance, gaining 51.85% over the past week and 52.44% over the past month. It has consistently outperformed its sector by 22.36% today and has been on a gaining streak for the last five days. The stock opened with a gap up of 12.07% and reached an intraday high of Rs 83.52. Additionally, it is trading above all major moving averages, indicating strong upward momentum. There is a notable increase in investor participation, with delivery volume rising by 2083.01% compared to the five-day average, suggesting heightened interest in the stock.
In the broader market context, while Karma Energy Ltd has shown remarkable returns, the benchmark Sensex has only increased by 0.31% over the past week and has declined by 0.90% over the past month. This stark contrast highlights the stock's strong performance relative to the market. The power generation and distribution sector, however, has faced a decline of 2.35%, indicating that the stock's rise is not reflective of broader sector trends. Overall, the combination of strong stock-specific factors and the stock's ability to outperform the benchmark suggests a robust investor confidence in Karma Energy Ltd, despite the challenges faced by its sector.