Why is Mahaveer Infoway falling/rising?

As of 20-Oct, Mahaveer Infoway Ltd's stock price is currently at Rs. 15.57, reflecting an increase of 0.3 or 1.96%. The stock has reached a new 52-week high today and has been on a positive trajectory, gaining for the last nine consecutive days, resulting in a remarkable 37.79% return during this period. Additionally, the stock has outperformed its sector by 1.06%. Over various time frames, Mahaveer Infoway has shown impressive returns, including a 64.76% increase year-to-date and a staggering 805.23% rise over the past five years. However, there has been a decline in investor participation, with delivery volume falling by 32.85% against the five-day average, which may indicate a potential concern for future momentum.
Broader market context shows that while Mahaveer Infoway has significantly outperformed the benchmark Sensex, which has only increased by 2.47% over the past week, the stock's strong performance highlights its resilience and investor interest despite the drop in delivery volume. The stock's trading above all key moving averages further supports its upward trend. Overall, the combination of strong historical performance and recent gains suggests a positive outlook for Mahaveer Infoway, even as liquidity concerns arise from decreased trading volumes.