Why is Mangalam Alloys falling/rising?

As of 16-Jul, Mangalam Alloys Ltd is experiencing a price increase, with its current price at Rs. 79.50, reflecting a rise of Rs. 1.5 or 1.92%. The stock has recently hit a new 52-week high of Rs. 60.35 and has outperformed its sector by 6.48%. Over the past week, the stock has shown a return of +4.67%, significantly outperforming the Sensex, which has declined by -1.04%. Additionally, Mangalam Alloys has demonstrated strong performance over the past month and year-to-date, with returns of +26.69% and +96.30%, respectively. However, it is noteworthy that there has been a decline in investor participation, with delivery volume dropping by -60.57% compared to the 5-day average, which may indicate some caution among investors.
In the broader market context, while Mangalam Alloys has been rising, the Sensex has faced a slight downturn, suggesting that the stock's performance is driven by company-specific factors rather than overall market trends. The stock's ability to maintain trading above all key moving averages indicates strong momentum, contrasting with the broader market's struggles. This divergence highlights investor confidence in Mangalam Alloys despite the general market conditions, which could be attributed to its robust financial performance and strategic positioning within its sector.