Why is Premco Global falling/rising?

As of 31-Jul, Premco Global Ltd. is experiencing a price increase, currently at 469.40, which reflects a rise of 28.9 or 6.56%. The stock has shown strong performance today, outperforming its sector by 8.91% and has been on a consecutive gain streak for the last three days, accumulating a total return of 7.4% during this period. It opened with a significant gap up of 6.24% and reached an intraday high of Rs 500, marking a 13.51% increase. Additionally, Premco Global is trading above its moving averages across various time frames, indicating positive momentum. The stock has also seen a rise in delivery volume, suggesting increased investor participation. Notably, it boasts a high dividend yield of 10.22%, which may attract income-focused investors.
In the broader market context, Premco Global's short-term performance contrasts sharply with the benchmark, as it has gained 5.26% over the past week while the Sensex has declined by 1.22%. Over the past month, the stock has increased by 9.66%, while the benchmark has fallen by 3.00%. This divergence highlights the stock's relative strength in a challenging market environment, particularly as the textile sector has seen a decline of 2.37%. Despite the overall market conditions, Premco Global's strong returns and positive trading indicators suggest a favorable outlook among investors.