Why is Tejas Cargo falling/rising?

As of 04-Jul, Tejas Cargo India Ltd is experiencing a price increase, with its current price at Rs. 213.75, reflecting a rise of Rs. 7.75 or 3.76%. The stock has recently hit a new 52-week and all-time high of Rs. 215.9 today. It has outperformed its sector by 3.47% and is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. However, there is a notable decline in investor participation, as the delivery volume on 03 July fell by 47.6% compared to the 5-day average. The stock's performance over the past week shows a gain of 7.01%, while it has increased by 24.35% over the past month, significantly outperforming the Sensex, which has declined by 0.69% in the same period.
In the broader market context, Tejas Cargo's short-term performance stands in stark contrast to the Sensex, which has seen a decline over the past week. While the stock has shown strong returns in the last month, the overall market has only increased by 3.42%. This suggests that Tejas Cargo is gaining traction independently of broader market trends, indicating strong investor interest despite the drop in delivery volume. The liquidity of the stock remains adequate for trading, supporting its recent upward movement.