Why is Sunlite Recycli. falling/rising?

As of 31-Oct, Sunlite Recycling Industries Ltd is experiencing a price increase, currently at Rs. 202.85, which reflects a rise of Rs. 14.85 or 7.9%. The stock has recently hit a new 52-week high of Rs. 210 and is outperforming its sector by 8.42%. Additionally, it is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating strong upward momentum. However, there has been a notable decline in investor participation, with delivery volume dropping by 72.97% compared to the 5-day average, which could be a concern for future price stability. The stock has shown impressive returns over various periods, including a 34.34% increase year-to-date and a 19.32% rise over the past month, significantly outperforming the Sensex, which has only increased by 8.79% year-to-date.
In the broader market context, Sunlite Recycling's short-term performance has been robust, with a 12.69% gain over the past week, while the Sensex has slightly declined by 0.28% during the same period. This indicates that Sunlite is not only performing well relative to its historical performance but also stands out against the benchmark index. The strong returns over the past month and year further emphasize the stock's positive trajectory, despite the recent drop in delivery volume, which suggests a potential caution among investors. Overall, the stock's rise can be attributed to its strong performance metrics and market positioning, even as it faces challenges with declining investor participation.