Why is Le Merite Export falling/rising?

As of 10-Oct, Le Merite Exports Ltd is experiencing a price increase, currently at Rs. 466.80, reflecting a rise of Rs. 23.2 or 5.23%. The stock has recently hit a new 52-week and all-time high of Rs. 479.8, indicating strong upward momentum. It has outperformed its sector by 4.2% today and is trading above all key moving averages, which suggests a bullish trend. Over the past week, the stock has gained 3.86%, and its year-to-date return stands at an impressive 69.07%. However, there is a noted decline in investor participation, with delivery volume dropping by 4.18% compared to the 5-day average, which could indicate some caution among investors.
Broader market context shows that while Le Merite Exports has significantly outperformed the Sensex, which has only risen by 1.57% over the past week, the stock's strong performance over longer periods is also noteworthy, with a 142.49% increase over the past year compared to the Sensex's 1.15%. This substantial outperformance highlights the stock's strength relative to the broader market. Despite the recent dip in delivery volume, the overall liquidity remains adequate for trading, suggesting that the stock's upward movement is supported by solid fundamentals and market interest.