Why is Modi's Navnirman falling/rising?

As of 19-Sep, Modis Navnirman Ltd is experiencing a price increase, currently at Rs. 311.10, reflecting a rise of 5.1 (1.67%). The stock has reached a new 52-week high of Rs. 317.85 today and has outperformed its sector by 1.37%. It has shown consistent gains over the last two days, with a total increase of 2.81% during this period. Additionally, the stock has delivered impressive returns over various time frames, including a 20.58% increase year-to-date and a remarkable 298.85% rise over the past three years. However, there is a notable decline in investor participation, with delivery volume dropping by 83.69% compared to the five-day average, which may indicate a potential concern for sustained momentum.
In the broader market context, Modis Navnirman Ltd's short-term performance has significantly outpaced the benchmark Sensex, which has only increased by 0.88% over the past week. This strong relative performance highlights the stock's resilience and attractiveness to investors despite the overall market conditions. The stock's ability to trade above its moving averages further supports its upward trajectory, suggesting positive investor sentiment. However, the falling delivery volume could pose a risk to its continued rise if it indicates waning interest among investors.