Why is Shivam Chemicals falling/rising?

As of 22-Sep, Shivam Chemicals Ltd is experiencing a price increase, currently at Rs 62.90, reflecting a rise of 3.9 or 6.61%. The stock has shown strong performance today, outperforming its sector by 7.44% and opening with a significant gain of 6.59%. Over the past week, the stock has increased by 2.78%, and it has demonstrated a year-to-date return of 23.36%, significantly higher than the Sensex's 5.15% during the same period. However, it is worth noting that the stock has faced erratic trading, not trading on 4 out of the last 20 days, and there has been a notable decline in investor participation, with delivery volume dropping by 58.33% against the 5-day average.
Broader Market Context: In comparison to the benchmark Sensex, Shivam Chemicals has outperformed significantly in the short term, with a 1-month return of 8.45% versus the Sensex's 1.05%. This strong performance may be attributed to the stock trading above its moving averages across various time frames, indicating positive momentum. Despite the positive price movements, the decline in delivery volume suggests a potential concern regarding investor interest, which could impact future trading activity. Overall, while the stock is currently rising, the erratic trading patterns and falling participation may warrant caution moving forward.