Why is Simplex Castings falling/rising?

As of 17-Oct, Simplex Castings Ltd is experiencing a significant rise in its stock price, currently at Rs. 459.50, reflecting an increase of Rs. 36.85 or 8.72%. The stock has recently hit a new 52-week and all-time high of Rs. 464.9 today, indicating strong upward momentum. Over the past three days, the stock has gained 12.28%, outperforming its sector by 9.85%. Additionally, it has shown impressive returns over various periods, including a 45.85% increase year-to-date and a staggering 1231.88% over the past three years. However, there has been a decline in investor participation, with delivery volume falling by 7.46% against the five-day average, which may indicate some caution among investors despite the positive price movement.
Broader market context shows that Simplex Castings has significantly outperformed the benchmark Sensex, which has only increased by 1.76% over the past week and 7.44% year-to-date. The stock's strong performance relative to the benchmark highlights its robust market position and investor confidence, despite the recent drop in delivery volume suggesting a potential concern for sustained interest. Overall, the combination of hitting new highs, consistent gains, and substantial long-term returns contributes to the stock's rising price, while the decrease in trading volume may warrant attention moving forward.