Why is Mega Nirman falling/rising?

As of 13-Nov, Mega Nirman & Industries Ltd is experiencing a price increase, currently at Rs 26.75, which reflects a rise of Rs 0.75 or 2.88%. The stock has been on an upward trend, gaining for the last four consecutive days and achieving a total return of 16.3% during this period. It is also trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating strong momentum. Additionally, the stock is close to its 52-week high, being only 3.18% away from Rs 27.6. Notably, investor participation has surged, with delivery volume increasing by 299.24% compared to the 5-day average, suggesting heightened interest and confidence among investors.
In the broader market context, Mega Nirman's short-term performance significantly outpaces the benchmark, with a 1-week return of 14.32% compared to the Sensex's 1.40%. Over the past month, the stock has also outperformed the benchmark, achieving a 20.44% return against the Sensex's 2.61%. This strong performance relative to the market indicates that investor sentiment towards Mega Nirman is particularly positive, contributing to its rising stock price. Overall, the combination of consistent gains, strong investor participation, and outperformance against the benchmark supports the upward movement of Mega Nirman's stock price.