Why is Purple United falling/rising?

As of 11-Jul, Purple United Sales Ltd is experiencing a price increase, currently at Rs. 363.80, reflecting a rise of 7.1 points or 1.99%. The stock has shown strong performance recently, with a 1-week return of +1.90% and a notable 1-month return of +10.48%. It has also reached a new 52-week and all-time high of Rs. 275.85 today. Additionally, the stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive trend. However, there has been a decline in investor participation, with delivery volume falling by 3.06% against the 5-day average, which may suggest some caution among investors.
In the broader market context, Purple United's short-term performance stands in contrast to the Sensex, which has declined by 1.22% over the past week. This indicates that while the stock is rising, it is doing so against a backdrop of broader market weakness. The stock's year-to-date return of +89.73% significantly outpaces the Sensex's +6.37%, further highlighting its strong relative performance. Overall, the combination of positive price movement, strong returns compared to the benchmark, and the recent high suggests that investor sentiment remains favorable, despite the noted decrease in delivery volume.