Why is Mahamaya Steel falling/rising?

As of 06-Aug, Mahamaya Steel Industries Ltd's stock price is currently at Rs 363.35, reflecting an increase of Rs 17.3 or 5.0%. The stock has shown a positive trend today, having gained after five consecutive days of decline. It reached an intraday high of Rs 363.35, outperforming its sector by 2.16%. Despite this upward movement, the stock is still close to its 52-week high, being just 3.21% away from Rs 375. However, there has been a notable drop in investor participation, with delivery volume falling by 96.74% against the five-day average, indicating potential concerns about sustained buying interest.
In the broader market context, Mahamaya Steel's short-term performance over the past week shows a slight decline of 0.18%, while the benchmark Sensex has fallen by 1.15%. Over the past month, Mahamaya Steel has outperformed the Sensex significantly, with a return of 6.24% compared to the benchmark's decline of 3.46%. The stock's strong year-to-date performance of 77.24% and a remarkable one-year return of 253.11% further highlight its resilience in a challenging market environment. The metal sector, particularly ferrous metals, has also seen gains of 2.96%, which may contribute positively to Mahamaya Steel's stock movement despite the volatility observed today.