Why is Punjab Commun. falling/rising?

As of 28-Oct, Punjab Communications Ltd is experiencing a price increase, currently at 60.00, reflecting a change of 4.54 (8.19%) upward. The stock has been on a positive trajectory, gaining for four consecutive days and achieving a remarkable 17.99% return over the past week. Today's trading saw the stock reach an intraday high of Rs 61, indicating strong performance, although it also experienced a low of Rs 54.01, showcasing high volatility with an intraday fluctuation of 6.07%. The stock is trading above its moving averages across various time frames, which typically signals bullish sentiment. However, there has been a notable decline in investor participation, with delivery volume dropping by 43.34% compared to the five-day average, which may raise concerns about sustained momentum.
In the broader market context, Punjab Communications Ltd has significantly outperformed the Sensex, which only gained 0.24% over the past week while the stock surged by 17.99%. This stark contrast highlights the stock's strong performance relative to the benchmark. Additionally, the telecommunications equipment sector has also seen a gain of 2.21%, contributing to a favorable environment for the stock. Despite the positive returns, the decline in delivery volume suggests that while the stock is currently rising, there may be underlying issues that could affect its future performance if investor participation does not improve.