Why is Manappuram Fin. falling/rising?

As of 08-Sep, Manappuram Finance Ltd is experiencing a price increase, currently at Rs. 292.05, reflecting a rise of Rs. 6.4 or 2.24%. The stock has recently hit a new 52-week and all-time high of Rs. 295, demonstrating strong upward momentum. Over the past week, the stock has gained 6.08%, and it has outperformed the sector by 1.92% today. The stock has shown consistent performance, with a 12.96% increase over the past month and a remarkable 55.14% year-to-date return. Positive factors contributing to this rise include strong long-term fundamentals, indicated by an average Return on Equity (ROE) of 16.74%, and high institutional holdings, which have increased by 1.91% over the previous quarter, suggesting confidence from knowledgeable investors. However, there is a noted decline in investor participation, with delivery volume falling by 26.09% against the 5-day average.
In the broader market context, Manappuram Finance Ltd's short-term performance significantly outpaces the benchmark, with the stock rising 6.08% over the past week compared to the Sensex's modest gain of 0.53%. This trend continues over the longer term, as the stock has generated a 42.01% return over the past year while the Sensex has declined by 0.49%. The stock's strong performance relative to the benchmark indicates robust investor sentiment and confidence in its future prospects, despite the recent drop in trading volume.