Why is Mahamaya Steel falling/rising?

As of 13-Nov, Mahamaya Steel Industries Ltd is experiencing a price increase, with the current price at Rs. 780.25, reflecting a rise of 9.45 or 1.23%. The stock has been on an upward trend, gaining for the last six days and achieving a remarkable 28.9% return during this period. Notably, it reached a new 52-week and all-time high today. Despite opening with a loss of 2% and touching an intraday low of Rs. 755.4, the stock has shown resilience, trading above its moving averages across various time frames. Additionally, there has been a significant increase in investor participation, with delivery volume rising by 52.21% compared to the five-day average, indicating strong interest in the stock.
In the broader market context, Mahamaya Steel's performance has significantly outpaced the benchmark Sensex, which has only increased by 1.40% over the past week, while the stock itself has surged by 22.86% in the same timeframe. This trend continues over longer periods, with the stock showing a year-to-date return of 280.61% compared to the Sensex's 8.11%. The high volatility observed today, with an intraday volatility of 1769.76%, suggests that while the stock is experiencing fluctuations, the overall investor sentiment remains positive, contributing to its rising price.