Why is Ather Energy falling/rising?

As of 07-Aug, Ather Energy Ltd's stock price is rising, currently at Rs 401.00, reflecting an increase of Rs 15.85 or 4.12%. The stock has shown strong performance recently, with a 1-week return of +14.49% and a 1-month return of +21.55%, significantly outperforming the Sensex, which has declined by 0.69% and 3.38% over the same periods, respectively. Today's trading has seen the stock touch an intraday high of Rs 401, and it is only 3.92% away from its 52-week high. Additionally, the stock is trading above all key moving averages, indicating a positive trend. However, despite these gains, the company faces challenges such as operating losses and a high Debt to EBITDA ratio, which suggest weak long-term fundamental strength.
Broader Market Context: In the context of the broader market, Ather Energy's recent performance stands out, particularly as it has outperformed its sector by 2.76% today. While the Sensex has shown a slight decline, Ather Energy's rising stock price indicates strong investor interest, bolstered by high institutional holdings that have increased by 17.42% over the previous quarter. This suggests that institutional investors, who typically have more resources to analyze company fundamentals, are optimistic about Ather Energy's prospects despite the company's operational challenges. Overall, the stock's upward movement is supported by rising investor participation and favorable short-term returns compared to the benchmark.