Why is Colab Platforms falling/rising?

As of 23-Sep, Colab Platforms Ltd is experiencing a price increase, currently at Rs. 113.37, reflecting a rise of 2.22 or 2.0%. The stock has reached a new 52-week high today and has been on a positive trajectory, gaining for the last 21 days with a remarkable return of 51.36% over this period. It opened with a gain of 2% today and has consistently traded at this price level. Additionally, the stock is performing well above its moving averages across various time frames. However, there has been a slight decline in investor participation, with delivery volume decreasing by 1.39% compared to the 5-day average, which may indicate a potential concern for sustained momentum.
In the broader market context, Colab Platforms has significantly outperformed the Sensex, which has seen a decline of 0.34% over the past week while the stock itself has surged by 10.38%. Year-to-date, the stock has achieved an extraordinary return of 619.35%, compared to the Sensex's modest 5.07%. This stark contrast highlights the stock's strong performance relative to the benchmark, reinforcing investor confidence despite the recent dip in delivery volume. Overall, the combination of strong price movement, consistent gains, and substantial outperformance against the benchmark suggests a bullish sentiment surrounding Colab Platforms Ltd.