Why is Manappuram Fin. falling/rising?

As of 16-Sep, Manappuram Finance Ltd's stock price is rising, currently at 295.50, reflecting an increase of 4.4 or 1.51%. The stock has recently hit a new 52-week and all-time high of Rs. 297, demonstrating strong performance today as it outperformed its sector by 1.75%. Over the past three days, the stock has gained 3.39%, and it is trading above all key moving averages, indicating positive momentum. Additionally, the company has shown impressive returns over the past year, with a 38.38% increase, and a remarkable 198.03% rise over the last three years. The high institutional holdings at 38.33%, which have increased by 1.91% over the previous quarter, suggest strong confidence from knowledgeable investors, further supporting the stock's upward movement.
In the broader market context, Manappuram Finance's short-term return of 1.56% over the past week is slightly below the benchmark Sensex's return of 1.58%, indicating that while the stock is performing well, it is closely tracking the market. However, the stock's year-to-date return of 56.97% significantly outpaces the Sensex's 5.43%, highlighting its strong performance relative to the broader market. Despite a decrease in delivery volume by 48.06% against the 5-day average, the stock remains liquid enough for trading, which may contribute to its stability and continued rise. Overall, the combination of strong fundamentals, consistent returns, and institutional support is driving the stock's positive performance.