Why is P S Raj Steels falling/rising?

As of 24-Sep, P S Raj Steels Ltd is experiencing a price increase, currently at Rs. 231.55, reflecting a rise of Rs. 8.8 or 3.95%. The stock has shown impressive performance, with a 1-week return of +19.88% and a 1-month return of +51.89%, significantly outperforming the Sensex, which has seen a decline of -1.08% over the same week and a modest gain of +0.75% over the month. Additionally, the stock reached a new 52-week and all-time high of Rs. 239.35 today, and it is trading above all key moving averages, indicating strong upward momentum. However, there has been a notable decrease in investor participation, with delivery volume falling by -27.56% compared to the 5-day average, which could be a concern for sustained growth.
Broader Market Context: In the context of the broader market, P S Raj Steels has significantly outperformed the Sensex in the short term, showcasing its strength amidst a generally weak market environment. While the Sensex has only gained +0.75% over the past month, P S Raj Steels' remarkable rise indicates strong investor interest and confidence in the company. Despite the drop in delivery volume, the stock's liquidity remains adequate for trading, suggesting that while there may be some caution among investors, the overall sentiment towards P S Raj Steels is positive, contributing to its rising stock price.