Why is Manaksia Coated falling/rising?

As of 16-Jul, Manaksia Coated Metals & Industries Ltd is experiencing a price increase, currently at Rs 144.90, which reflects a rise of Rs 13.5 or 10.27%. The stock has shown strong performance, gaining 12.02% over the last two days and outperforming its sector by 9.91% today. It is also close to its 52-week high, just 3.8% away from Rs 150.4. Over the past year, the stock has generated impressive returns of 137.70%, significantly outperforming the BSE500 index over various time frames, including 1 year and 3 years. Despite a recent decline in investor participation, as indicated by a 17.84% drop in delivery volume, the stock continues to trade above its moving averages, suggesting a bullish trend.
In the broader market context, the stock's short-term performance is notably strong compared to the benchmark, with a 5.54% increase over the past week while the Sensex has declined by 1.08%. This contrast highlights the stock's resilience and attractiveness to investors amid a generally weaker market. The liquidity of the stock remains adequate for trading, further supporting its upward movement. Overall, the combination of strong historical performance, recent gains, and favorable trading conditions contributes to the stock's rising price.