Why is Vardhman Special falling/rising?

As of 07-Aug, Vardhman Special Steels Ltd is experiencing a price increase, currently at Rs 266.20, which reflects a rise of 5.7 or 2.19%. The stock has shown a strong performance today, outperforming its sector by 1.93%. It reached an intraday high of Rs 266.20, although it also touched a low of Rs 253.45 earlier in the day. Over the past month, the stock has gained 4.80%, contrasting with a decline of 3.38% in the Sensex. Year-to-date, Vardhman has increased by 16.63%, significantly outperforming the Sensex's 3.18% gain. However, there has been a notable decline in investor participation, with delivery volume dropping by 58.65% against the 5-day average, which may indicate some caution among investors.
In the broader market context, Vardhman Special Steels Ltd's recent performance contrasts with the benchmark Sensex, which has seen a slight decline of 0.69% over the past week. While the stock has shown resilience with a significant increase over the past three years of 114.03% compared to the Sensex's 38.08%, its one-year performance is less favorable, showing a decline of 2.20% against the benchmark's 1.45% gain. The stock is currently trading above its moving averages, suggesting a positive trend, but the drop in delivery volume could be a concern for future price stability. Overall, the stock's recent rise can be attributed to its strong performance metrics, despite the mixed signals from investor participation.