Why is Modi's Navnirman falling/rising?

As of 16-Sep, Modis Navnirman Ltd's stock price is rising, currently at Rs 304.00, reflecting an increase of Rs 14.5 or 5.01%. The stock has shown strong performance today, outperforming its sector by 3.96% and reaching an intraday high of Rs 309, which is a 6.74% increase. Additionally, the stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive trend. However, there has been a decline in investor participation, with delivery volume falling by 26.77% against the 5-day average, which could suggest some caution among investors. The stock is also close to its 52-week high, just 2.3% away from Rs 311, and has shown impressive returns over various periods, including a 289.74% increase over the last three years.
In the broader market context, Modis Navnirman Ltd has significantly outperformed the Sensex, with a 1-week return of 9.75% compared to the Sensex's 1.58%, and a year-to-date return of 17.83% versus the Sensex's 5.43%. This strong relative performance indicates that the stock is gaining traction among investors despite the overall market conditions. The stock's ability to maintain a positive trajectory while facing a decline in delivery volume suggests that it is attracting interest, likely due to its strong historical performance and current trading dynamics.