Why is Sudarshan Chem falling/rising?

As of 05-Aug, Sudarshan Chemical Industries Ltd is experiencing a slight increase in its stock price, currently at Rs 1,451.00, reflecting a change of 1.8 points or 0.12% upward. The stock has shown a positive performance over the last two days, gaining 2.55% during this period. Despite opening with a loss of 2.7% today and touching an intraday low of Rs 1,410.05, it remains close to its 52-week high, just 1.24% away from Rs 1,469. The stock has outperformed the benchmark Sensex significantly over various periods, with a year-to-date return of 28.75% compared to the Sensex's 3.29%. However, there has been a notable decline in investor participation, with delivery volume dropping by 80.83% against the 5-day average, which may indicate a potential concern regarding liquidity.
In the broader market context, Sudarshan Chemical's recent performance contrasts sharply with the Sensex, which has declined by 0.77% over the past week and 3.26% over the past month. The stock's strong returns over the past year (57.89%) and three years (198.99%) further highlight its resilience compared to the benchmark's modest gains. While the stock is trading above all its moving averages, indicating a bullish trend, the significant drop in delivery volume could suggest caution among investors. Overall, the stock's recent upward movement appears to be supported by its historical performance and proximity to its 52-week high, despite the current dip in investor engagement.