Why is Vardhman Special falling/rising?

As of 23-Oct, Vardhman Special Steels Ltd is experiencing a price increase, currently at Rs. 302.85, reflecting a rise of Rs. 6.3 or 2.12%. The stock has recently hit a new 52-week high of Rs. 315 and has shown strong performance, gaining 8.98% over the last three days. It has outperformed its sector by 2.63% today and opened with a gain of 2.87%. Additionally, the stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive trend. Notably, there has been a significant increase in investor participation, with delivery volume rising by 1098.04% against the 5-day average, suggesting heightened interest in the stock.
Broader market context shows that Vardhman Special Steels has outperformed the Sensex in various time frames, including a 1-week return of 8.88% compared to the Sensex's 1.30% and a year-to-date return of 32.68% versus the Sensex's 8.21%. This strong performance relative to the benchmark indicates robust investor confidence in the company, contributing to its rising stock price. Overall, the combination of positive stock-specific factors and favorable comparisons to the broader market supports the upward movement of Vardhman Special Steels Ltd's stock price.