Why is Manappuram Fin. falling/rising?

As of 13-Jun, Manappuram Finance Ltd's stock price is currently at 279.60, reflecting an increase of 9.1, or 3.36%. The stock has recently hit a new 52-week and all-time high of Rs. 280.7 today, and it has outperformed its sector by 3.88%. Over the past week, the stock has gained 20.05%, marking a consistent upward trend for the last seven days. Despite opening with a loss of 3.77% today, it has shown resilience by trading above its moving averages across various periods. The company benefits from strong long-term fundamentals, evidenced by an average Return on Equity (ROE) of 16.74% and high institutional holdings, which have increased by 1.53% over the previous quarter. However, there is a noted decline in investor participation, with delivery volume dropping by 62.89% against the five-day average.
In the broader market context, Manappuram Finance Ltd has significantly outperformed the benchmark Sensex, with a one-week return of +12.76% compared to the Sensex's -1.30%. This trend continues over the past month and year, where the stock has shown returns of +21.41% and +49.76%, respectively, while the Sensex has remained relatively flat. The stock's strong performance relative to the benchmark indicates robust investor confidence and market positioning, despite some short-term volatility reflected in the opening gap down today. Overall, the combination of strong fundamentals, institutional support, and recent performance trends contributes to the stock's rising price.