Why is Naapbooks falling/rising?

As of 22-Sep, Naapbooks Ltd's stock price is rising, currently at Rs. 162.00, reflecting an increase of Rs. 9.5 or 6.23%. The stock has reached a new 52-week high today and has outperformed its sector by 8.84%. It opened with a significant gain of 6.23% and has maintained this price throughout the trading session. Additionally, Naapbooks has shown impressive returns over various periods, including a 158.62% increase over the past year and a remarkable 563.39% rise over the last three years. The stock is also trading above its moving averages across multiple time frames, indicating strong upward momentum. Furthermore, there has been a notable increase in investor participation, with delivery volume rising by 304.26% against the 5-day average, which suggests growing interest in the stock.
In the broader market context, Naapbooks has significantly outperformed the Sensex, which has only increased by 0.46% over the past week and 1.05% over the past month. The IT - Software sector, in which Naapbooks operates, has experienced a decline of 2.6%, highlighting the company's strong performance relative to its peers. This contrast in performance underscores the strength of Naapbooks amidst a challenging sector environment. Overall, the combination of positive stock-specific factors and the company's ability to thrive despite broader market challenges contributes to the rising stock price.