Why is ASM Technologies falling/rising?

As of 24-Jun, ASM Technologies Ltd is experiencing a price increase, currently at 2,763.35, reflecting a rise of 157.6 or 6.05%. The stock has hit a new 52-week and all-time high of Rs 2866.3 today, marking a significant intraday gain of 10%. Over the past three days, the stock has shown a consecutive gain of 13.52%, outperforming its sector by 5.92%. In terms of returns, ASM Technologies has demonstrated impressive performance, with a year-to-date increase of 101.85% and a one-year return of 113.30%. The company has consistently reported strong financial results, including a net profit growth of 193.32% and a healthy operating profit growth rate of 108.95%. However, despite these positive indicators, the stock is considered expensive with a high enterprise value to capital employed ratio, and domestic mutual funds hold no stake, which may indicate some caution in the market.
In the broader market context, ASM Technologies has significantly outperformed the Sensex, which has only increased by 0.58% over the past week, while ASM Technologies rose by 5.42%. This stark contrast highlights the stock's strong momentum relative to the benchmark. The company's ability to service debt effectively and its consistent returns over the last three years further bolster investor confidence. However, the falling investor participation, as indicated by a 46.06% drop in delivery volume, could be a concern moving forward, suggesting that while the stock is currently rising, there may be underlying risks that could affect its future performance.