Why is Vega Jewellers falling/rising?

As of 05-Jun, Vega Jewellers Ltd is experiencing a price increase, with its current price at Rs. 83.77, reflecting a rise of Rs. 1.64 or 2.0%. The stock has been on an upward trend, gaining for the last seven days and achieving a total return of 14.8% during this period. Today, it opened with a 2% gain and reached an intraday high of Rs. 83.77, marking a new 52-week and all-time high. Additionally, the stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating strong momentum. There has also been a notable increase in investor participation, with delivery volume rising by 38.89% compared to the 5-day average, suggesting growing interest in the stock.
In the broader market context, Vega Jewellers has significantly outperformed the benchmark Sensex, which has seen a slight decline of 0.23% over the past week, while Vega Jewellers has surged by 10.37%. This stark contrast highlights the stock's strength relative to the market. Over the past month, Vega Jewellers has achieved a remarkable return of 51.32%, compared to the Sensex's modest increase of 0.80%. The stock's impressive year-to-date performance of 463.35% further underscores its robust growth trajectory, which is not reflected in the broader market trends. Overall, the combination of strong stock-specific factors and favorable comparisons to the benchmark indicates a positive sentiment surrounding Vega Jewellers Ltd.