Why is Pagaria Energy falling/rising?

As of 12-Aug, Pagaria Energy Ltd's stock price is currently at Rs. 13.03, reflecting an increase of Rs. 0.25 or 1.96%. The stock has reached a new 52-week high today and has been on a positive trajectory, gaining for the last 16 consecutive days with a total return of 36.44% during this period. Additionally, the stock has significantly outperformed the sector by 2.88%. Over the past week, Pagaria Energy has shown a remarkable return of 10.24%, and over the last year, it has increased by 51.51%, indicating strong performance relative to the benchmark Sensex, which has only gained 0.74% in the same timeframe. However, there has been a decline in investor participation, with delivery volume falling by 11.24% against the 5-day average, which could indicate a potential concern for future momentum.
In the broader market context, while Pagaria Energy has been thriving, the Sensex has experienced a slight decline of 0.59% over the past week and a 2.75% drop over the last month. This contrast highlights the stock's strong performance in a generally unfavorable market environment. The significant outperformance of Pagaria Energy compared to the benchmark suggests that investor sentiment remains positive towards the company despite the overall market trends. The liquidity of the stock remains adequate, allowing for trades without significant barriers, which may also contribute to its rising price.