Why is Mahaveer Infoway falling/rising?

As of 15-Oct, Mahaveer Infoway Ltd's stock price is rising, currently at Rs. 14.70, reflecting an increase of Rs. 0.65 or 4.63%. The stock has recently hit a new 52-week high of Rs. 14.75 and has been on a consecutive gain streak for the last six days, resulting in a substantial return of 30.09% during this period. Additionally, the stock has outperformed its sector by 4.21%. Over various time frames, Mahaveer Infoway has shown impressive returns, including a 73.76% increase over the past month and a remarkable 201.23% rise over three years. The rising investor participation is evident with a delivery volume increase of 44.03% against the five-day average, indicating strong demand and liquidity for the stock.
In the broader market context, Mahaveer Infoway's performance significantly outpaces the benchmark Sensex, which has only increased by 1.02% over the past week and 1.00% over the past month. The stock's year-to-date return of 55.56% also contrasts sharply with the Sensex's 5.72% increase, highlighting its strong relative performance. This disparity suggests that investor sentiment towards Mahaveer Infoway is particularly positive compared to the overall market, contributing to its rising stock price.