Why is Mah. Scooters falling/rising?

As of 04-Sep, Maharashtra Scooters Ltd is experiencing a price increase, currently at Rs. 16,855.00, reflecting a rise of 162.3 points or 0.97%. The stock has shown strong performance recently, with a new 52-week and all-time high of Rs. 17,062.45 reached today. It has outperformed its sector by 0.56% and has gained consecutively for the last six days, accumulating a total return of 9.44% during this period. Over the past year, the stock has generated a return of 69.68%, significantly outperforming the BSE500 index, which has seen a decline of 1.98%. However, it is important to note that while the stock has strong long-term fundamental strength, its profits have fallen by 12.5%, indicating some underlying challenges.
In the broader market context, Maharashtra Scooters Ltd has outperformed the Sensex, which has only increased by 0.80% over the past week, while the stock itself has risen by 7.58%. This trend of outperformance is consistent across multiple time frames, with the stock showing a year-to-date increase of 75.41% compared to the Sensex's 3.30%. Despite a recent decline in investor participation, as evidenced by an 8.34% drop in delivery volume, the stock remains liquid enough for trading. The strong long-term performance and fair valuation relative to peers contribute positively to investor sentiment, supporting the recent upward movement in the stock price.