Why is Le Merite Export falling/rising?

As of 17-Oct, Le Merite Exports Ltd is experiencing a price increase, with its current price at Rs. 491.50, reflecting a rise of Rs. 18.9 or 4.0%. The stock has recently hit a new 52-week and all-time high of Rs. 493.9. It has outperformed its sector by 4.98% today and is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Additionally, there has been a notable increase in investor participation, with a delivery volume of 47.2k on 16 October, which is up by 37.53% compared to the 5-day average. The stock has shown impressive returns over various periods, including a 33.87% increase over the past month and a staggering 596.67% over the past three years.
In the broader market context, Le Merite Exports has significantly outperformed the Sensex, which has only increased by 1.68% over the past week and 1.50% over the past month, while Le Merite's returns for the same periods are +5.29% and +33.87%, respectively. This strong performance relative to the benchmark indicates robust investor confidence and market interest in the stock. The liquidity of the stock is also favorable, as it is liquid enough for trades of Rs. 0.06 crore based on 2% of the 5-day average traded value. Overall, the combination of strong price performance, increased investor participation, and favorable comparisons to the benchmark contributes to the rising trend in Le Merite Exports' stock price.