Why is Ponni Sug.Erode falling/rising?

As of 24-Oct, Ponni Sugars (Erode) Ltd is experiencing a price increase, with its current price at Rs 302.00, reflecting a rise of Rs 16.7 or 5.85%. The stock has shown a strong performance today, outperforming its sector by 6.49% and has been on a consecutive gain streak for the last four days, accumulating a total return of 9.18% over this period. Additionally, the stock reached an intraday high of Rs 315.45, indicating significant upward momentum. Despite a year-to-date decline of 25.54%, the recent trading activity has seen a notable increase in investor participation, with delivery volume rising by 126.12% compared to the 5-day average, suggesting growing interest and confidence among investors.
In the broader market context, Ponni Sugars' short-term return of 9.18% over the past week significantly outpaces the benchmark Sensex, which has only increased by 0.31% during the same period. This indicates that the stock is gaining traction relative to the overall market. However, it is important to note that while the stock has performed well recently, it still lags behind in longer-term comparisons, with a year-over-year decline of 30.42% compared to the Sensex's increase of 5.18%. The liquidity of the stock remains adequate for trading, further supporting its recent price movement.