Why is Bharat Gears falling/rising?

As of 24-Sep, Bharat Gears Ltd is experiencing a significant rise in its stock price, currently at Rs. 120.13, reflecting an increase of Rs. 14.49 or 13.72%. The stock has reached a new 52-week high of Rs. 124.35 today and has outperformed its sector by 14.76%. Over the past week, Bharat Gears has shown a remarkable return of 24.19%, while its one-month return stands at 27.15%. Positive financial results, including the highest operating cash flow and substantial growth in profit after tax, have contributed to this upward movement. Additionally, the stock is trading at a discount compared to its peers, which enhances its attractiveness to investors despite a notable decline in delivery volume.
In the broader market context, while the BSE500 index has generated negative returns of -5.32% over the past year, Bharat Gears has managed to deliver a positive return of 12.01%, indicating strong relative performance. The stock's recent gains are further supported by its consistent trading above key moving averages, suggesting bullish sentiment among investors. However, the falling investor participation, as evidenced by a significant drop in delivery volume, may raise concerns about the sustainability of this upward trend. Overall, the stock's strong financial performance and attractive valuation relative to peers have played a crucial role in its recent rise, despite some challenges in market liquidity.