Why is Alkali Metals falling/rising?

As of 09-Oct, Alkali Metals Ltd is experiencing a significant rise in its stock price, currently at Rs 101.10, reflecting an increase of Rs 11.73 or 13.13%. The stock has shown strong performance today, outperforming its sector by 12.81% and achieving a consecutive gain over the last two days with a total return of 13.2%. It reached an intraday high of Rs 107.24, indicating a 20% increase at its peak. Despite this positive movement, there has been a notable decline in investor participation, with delivery volume dropping by 91.98% compared to the 5-day average, which may suggest caution among investors. The stock is also trading above its moving averages across multiple time frames, indicating a bullish trend.
In the broader market context, Alkali Metals has outperformed the Sensex in the short term, with a 1-week return of 9.78% compared to the Sensex's 1.47%. However, it is important to note that the stock has underperformed on a year-to-date basis, with a decline of 9.49% while the Sensex has gained 5.16%. This mixed performance highlights the stock's volatility and the potential for recovery in the short term, despite its longer-term struggles. The high volatility observed today, with an intraday fluctuation of 5.77%, further emphasizes the dynamic nature of the stock's trading environment.