Why is Le Merite Export falling/rising?

As of 19-Sep, Le Merite Exports Ltd is experiencing a price increase, currently at Rs. 394.80, which reflects a rise of Rs. 7.55 or 1.95%. The stock has recently hit a new 52-week and all-time high of Rs. 398.8, indicating strong upward momentum. Additionally, it has outperformed its sector by 1.75% today. The stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a positive trend. Furthermore, there has been a notable increase in investor participation, with delivery volume rising by 25% compared to the 5-day average, contributing to its liquidity, which is adequate for trading.
In the broader market context, Le Merite Exports has shown impressive returns compared to the benchmark Sensex, with a 1-week return of +5.11% versus the Sensex's +0.85%, and a year-to-date return of +42.99% compared to the Sensex's +7.11%. Over the past year, the stock has surged by 91.14%, while the Sensex has declined by 0.35%. This significant outperformance indicates strong investor confidence and market interest in Le Merite Exports, which is further supported by the rising delivery volumes and consistent price increases.