Why is Ather Energy falling/rising?

As of 25-Jun, Ather Energy Ltd's stock price is rising, currently at Rs. 340.70, reflecting an increase of Rs. 20.15 or 6.29%. The stock has recently outperformed its sector by 5.82% and has been on a consecutive gain streak for the last two days, accumulating a total return of 7.07% during this period. Additionally, the stock reached a new 52-week and all-time high of Rs. 344.1 today. Despite this positive momentum, there has been a notable decline in investor participation, with delivery volume dropping by 51.22% compared to the five-day average, which may indicate a potential concern regarding sustained interest in the stock.
Broader Market Context: In the short term, Ather Energy's performance has been significantly stronger than the benchmark Sensex, with a one-week return of 5.40% compared to the Sensex's 1.61%. This trend of outperformance is consistent over the past month as well, where Ather Energy gained 6.97% against the Sensex's 1.27%. The stock's ability to maintain trading above its various moving averages further supports its upward trajectory, although the falling delivery volume could suggest caution among investors moving forward.