Why is P S Raj Steels falling/rising?

As of 01-October, P S Raj Steels Ltd is experiencing a price increase, currently trading at Rs. 252.20, which reflects a rise of Rs. 6.85 or 2.79%. The stock has recently hit a new 52-week and all-time high of Rs. 255, indicating strong upward momentum. Over the past week, the stock has outperformed the sector by 2.33% and has shown significant gains of 65.92% over the past month, while the benchmark Sensex has only increased by 0.86%. However, it is important to note that there has been a decline in investor participation, with delivery volume falling by 21.26% against the 5-day average, which could indicate a potential concern for sustained upward movement.
In the broader market context, P S Raj Steels' short-term performance has been notably strong, with a 1-week return of +8.92%, contrasting sharply with the Sensex's decline of 0.88% during the same period. This suggests that the stock is gaining traction independently of broader market trends. The liquidity of the stock remains adequate for trading, as it is based on 2% of the 5-day average traded value. Overall, while the stock shows positive momentum and strong returns, the decrease in delivery volume may warrant caution regarding future price stability.