Why is Le Merite Export falling/rising?

As of 24-Sep, Le Merite Exports Ltd is experiencing a price increase, currently trading at 399.25, which reflects a rise of 4.3 or 1.09%. The stock has shown strong performance recently, with a 1-week return of +8.74% and a 1-month return of +12.53%. It is also close to its 52-week high, being only 2.44% away from Rs 409. Additionally, the stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive trend. However, there has been a notable decline in investor participation, with delivery volume dropping by 52.08% against the 5-day average, which could be a concern for future momentum.
In the broader market context, Le Merite Exports has significantly outperformed the Sensex, which has seen a decline of 1.08% over the past week, while the stock has gained. Year-to-date, Le Merite has returned +44.60%, compared to the Sensex's +5.97%, and over the past year, it has risen by an impressive 91.44%, while the benchmark has fallen by 3.41%. This stark contrast in performance highlights the stock's strength relative to the broader market, despite the recent drop in trading volume, which may affect liquidity and investor sentiment moving forward.