Why is Mangalam Alloys falling/rising?

As of 24-Jun, Mangalam Alloys Ltd is experiencing a price increase, with its current price at Rs. 70.55, reflecting a change of Rs. 2.7 or 3.98%. The stock has recently hit a new 52-week high of Rs. 60.35 and is outperforming its sector by 6.48%. Over the past week, the stock has shown a remarkable return of +10.23%, and over the past month, it has surged by +121.51%. Additionally, Mangalam Alloys is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating strong upward momentum. However, there has been a notable decline in investor participation, with delivery volume dropping by 60.57% against the 5-day average, which could signal caution among investors.
Broader Market Context: In comparison to the benchmark Sensex, which has only increased by 0.77% over the past week and month, Mangalam Alloys' performance stands out significantly. The stock's year-to-date return of +74.20% also surpasses the Sensex's +5.92%, highlighting its strong relative performance. This indicates that while the broader market is experiencing modest gains, Mangalam Alloys is capitalizing on positive sentiment and strong trading patterns, despite the recent drop in delivery volumes.