Why is Bharat Seats falling/rising?

As of 10-Oct, Bharat Seats Ltd is experiencing a price increase, currently at Rs 216.65, which reflects a rise of Rs 3.4 or 1.59%. The stock has shown strong performance recently, gaining 3.71% over the last two days and outperforming its sector by 1.84% today. It is also close to its 52-week high, being only 4.36% away from Rs 226.1. Additionally, the stock has demonstrated impressive returns over various periods, including a year-to-date increase of 130.60% and a three-year increase of 421.11%. However, there has been a decline in investor participation, with delivery volume falling by 20.93% compared to the five-day average, which could indicate a potential concern for future momentum.
In the broader market context, Bharat Seats has significantly outperformed the Sensex, which has only increased by 1.59% over the past week while Bharat Seats rose by 11.27%. This strong relative performance highlights investor confidence in the company compared to the overall market. Despite the drop in delivery volume, the stock's consistent trading above its moving averages suggests a robust upward trend, indicating that the recent price movements are supported by positive market sentiment, even as liquidity remains adequate for trading.