Why is Modi's Navnirman falling/rising?

As of 04-Nov, Modis Navnirman Ltd's stock price is rising, currently at Rs 331.70, reflecting an increase of Rs 15.7 or 4.97%. The stock has been on an upward trend, gaining for the last four days with a total return of 7.71% during this period. It is currently trading close to its 52-week high, just 3.57% away from Rs 343.55. Additionally, the stock has outperformed its sector by 5.76% today and is trading above all key moving averages, indicating strong momentum. Notably, investor participation has surged, with delivery volume increasing by 820% compared to the five-day average, suggesting heightened interest in the stock.
In the broader market context, Modis Navnirman Ltd has shown a strong performance compared to the benchmark Sensex, which has declined by 1.38% over the past week while the stock has risen by 7.07%. Year-to-date, the stock has outperformed the Sensex significantly, with a return of 28.57% compared to the benchmark's 6.81%. This positive divergence highlights the stock's strength in a challenging market environment, reinforcing investor confidence and contributing to its rising price.