Why is Premco Global falling/rising?

As of 03-Nov, Premco Global Ltd. is experiencing a significant rise in its stock price, currently at Rs 499.10, reflecting an increase of Rs 47.15 or 10.43%. The stock has shown strong performance today, outperforming its sector by 9.65% and has been on a consecutive gain streak for the last two days, accumulating a total return of 13.03%. It opened with a notable gain of 9.53% and reached an intraday high of Rs 534.4, marking an increase of 18.24%. The stock is trading above its moving averages across various time frames, indicating a bullish trend. Additionally, there has been a significant increase in investor participation, with delivery volume rising by 218.13% compared to the 5-day average. The high dividend yield of 9.92% at the current price also contributes positively to investor sentiment.
In the broader market context, Premco Global's short-term return of 12.78% over the past week stands in stark contrast to the Sensex, which has declined by 0.94%. Over the past month, the stock has outperformed the benchmark as well, with a return of 9.93% compared to the Sensex's 3.41%. This trend of outperformance continues year-to-date, where Premco Global has achieved a return of 14.66% against the Sensex's 7.47%. Overall, the stock's strong performance relative to the benchmark and its positive internal factors suggest a robust upward momentum in its price.