Why is SRM Energy Ltd falling/rising?

As of 23-Oct, SRM Energy Ltd is experiencing a price increase, currently at Rs 21.14, which reflects a rise of Rs 0.41 or 1.98%. The stock has been on an upward trend, gaining for the last 19 days and achieving a remarkable 77.35% return during this period. It is also trading close to its 52-week high, just 1.7% away from Rs 21.5. Additionally, the stock has outperformed its sector by 0.71% today and is trading above all key moving averages, indicating strong momentum. However, there has been a notable decline in investor participation, with delivery volume dropping by 61.86% compared to the 5-day average, which could suggest a potential concern regarding sustained interest in the stock.
In the broader market context, SRM Energy Ltd's short-term performance has significantly outpaced the benchmark Sensex, which has only risen by 1.30% over the past week, compared to the stock's impressive 8.13% gain. Over the past month, the stock has surged by 73.85%, while the Sensex has only increased by 2.99%. This stark contrast highlights the stock's strong relative performance in the market. Despite the drop in delivery volume, the overall bullish trend and substantial returns over various time frames indicate a robust investor sentiment towards SRM Energy Ltd.