Why is Rex Pipes&Cables falling/rising?

As of 09-Jul, Rex Pipes & Cables Industries Ltd is experiencing a price increase, with its current price at 120.65, reflecting a rise of 2.35 or 1.99%. The stock has recently hit a new 52-week and all-time high of Rs. 136.65. It has outperformed its sector by 5.97% today and is trading above all key moving averages, indicating strong momentum. Additionally, there has been a notable increase in investor participation, with delivery volume rising by 37.93% compared to the 5-day average. The stock has shown impressive year-to-date growth of 64.82% and a one-year return of 49.23%, significantly outperforming the benchmark Sensex, which has only risen by 7.75% and 4.27% over the same periods.
In the broader market context, while Rex Pipes & Cables has seen a slight decline of 0.08% over the past week, it has outperformed the Sensex, which gained 0.09% in the same timeframe. The stock's strong long-term performance, particularly a 177.36% increase over the past three years, suggests robust underlying fundamentals. The liquidity of the stock is also favorable, as it is liquid enough for trading sizes, which can attract more investors. Overall, the combination of strong price performance, rising investor interest, and favorable trading conditions contributes to the stock's upward movement.