Why is Mahamaya Steel falling/rising?

As of 31-Oct, Mahamaya Steel Industries Ltd's stock price is currently at Rs. 616.70, reflecting an increase of Rs. 10.85 or 1.79%. The stock reached a new 52-week and all-time high of Rs. 621 today, demonstrating strong performance with a day's high of 2.5% increase. Over the past week, the stock has outperformed the sector by 0.38% and has shown impressive returns, with a year-to-date increase of 200.83% compared to the Sensex's 7.42%. However, there has been a notable decline in investor participation, with delivery volume falling by 44.53% against the 5-day average, which could indicate a potential concern for sustained momentum.
Broader Market Context: In the short term, Mahamaya Steel's stock has significantly outperformed the Sensex, gaining 7.92% over the past week while the benchmark index has decreased by 0.32%. This stark contrast highlights the stock's strong performance relative to the broader market. Despite the positive price movement and high trading volumes above key moving averages, the drop in delivery volume suggests that while the stock is currently rising, there may be underlying factors that could affect its future performance if investor interest does not stabilize.