Why is Le Merite Export falling/rising?

As of 18-Sep, Le Merite Exports Ltd is experiencing a price increase, currently at 387.25, which reflects a rise of 20.1 or 5.47%. The stock has recently hit a new 52-week and all-time high of Rs.393.8. It has outperformed its sector by 5.27% today and is trading above all key moving averages, indicating strong momentum. Over the past week, the stock has gained 6.80%, and year-to-date, it has risen by 40.26%. However, there is a notable decline in investor participation, with delivery volume dropping by 73.87% compared to the 5-day average, which could be a concern for future trading activity.
In the broader market context, Le Merite Exports has significantly outperformed the Sensex, which has only increased by 1.67% over the past week, while the stock itself has risen by 6.80%. This trend of outperformance is consistent over longer periods, with a year-on-year increase of 87.80% compared to the Sensex's mere 0.18%. The liquidity of the stock remains adequate for trading, as it is based on 2% of the 5-day average traded value. Overall, while the stock is currently rising, the sharp decline in delivery volume suggests that caution may be warranted regarding sustained interest from investors.