Why is Manaksia Coated falling/rising?

As of 21-Jul, Manaksia Coated Metals & Industries Ltd's stock price is rising, currently at Rs. 143.20, reflecting an increase of Rs. 2.2 or 1.56%. The stock has recently outperformed its sector by 2.05% and has shown a trend reversal after two consecutive days of decline. It reached a new 52-week high of Rs. 150.45 today, indicating strong upward momentum. Over the past year, the stock has generated impressive returns of 127.30%, significantly outperforming the BSE500 index over various time frames, including a remarkable 605.42% increase over the last three years. However, there has been a decline in investor participation, with delivery volume falling by 32.12% against the 5-day average, which may raise concerns about sustained interest.
In the broader market context, the stock's performance stands in stark contrast to the benchmark Sensex, which has seen a slight decline of 0.06% over the past week. While Manaksia Coated has delivered a 10.71% return in the same period, the broader market has struggled, highlighting the stock's strong relative performance. This divergence suggests that investor sentiment towards Manaksia Coated remains positive, despite the overall market conditions. The liquidity of the stock also appears adequate for trading, further supporting its price movement.