Why is Saffron Industri falling/rising?

As of 06-Aug, Saffron Industries Ltd is experiencing a price increase, currently at Rs. 24.28, reflecting a rise of 0.47 or 1.97%. The stock has hit a new 52-week high today and has been on a positive trajectory, gaining for the last eight days with a total return of 16.96% during this period. Additionally, the stock has significantly outperformed the sector by 1.57%. Over the past week, Saffron Industries has shown a remarkable return of 10.26%, and over the last month, it has surged by 59.63%. However, there has been a decline in investor participation, with delivery volume falling by 12.09% against the five-day average, indicating a potential concern regarding sustained interest in the stock.
In the broader market context, while Saffron Industries has shown impressive returns, the benchmark Sensex has declined by 1.15% over the past week and by 3.46% over the last month. This stark contrast highlights the stock's strong performance relative to the broader market, where it has outperformed significantly year-to-date with a return of 246.86% compared to the Sensex's 3.08%. The liquidity of the stock remains adequate for trading, suggesting that despite the drop in delivery volume, it is still accessible for investors. Overall, the combination of strong recent performance, hitting a new high, and substantial returns compared to the benchmark contributes to the rising price of Saffron Industries Ltd.