Why is Mangalam Alloys falling/rising?

As of 27-Jun, Mangalam Alloys Ltd is experiencing a price increase, currently trading at Rs. 74.80, which reflects a rise of 1.45 or 1.98%. The stock has shown impressive performance, with a 1-week return of +10.24% and a remarkable 1-month return of +137.46%. Today's price summary indicates that the stock has reached a new 52-week high of Rs. 60.35 and has outperformed its sector by 6.48%. Additionally, it is trading above all key moving averages, which suggests strong upward momentum. However, there is a noted decline in investor participation, with delivery volume dropping by 60.57% against the 5-day average, indicating potential caution among investors.
Broader market context shows that while Mangalam Alloys has significantly outperformed the Sensex, which has only increased by 2.09% over the past week, the stock's strong returns highlight its relative strength in the market. The year-to-date performance of +84.69% compared to the Sensex's +8.43% further emphasizes this trend. Despite the drop in delivery volume, the stock remains liquid enough for trading, suggesting that while investor enthusiasm may be waning, the underlying performance metrics continue to support a rising stock price.