Why is Alpex Solar falling/rising?

As of 22-Aug, Alpex Solar Ltd's stock price is currently at 1,311.30, reflecting an increase of 2.8 points or 0.21%. The stock has shown a strong performance over the past month, with a return of 15.66%, while it has outperformed the broader market significantly over the last year, achieving a return of 63.17% compared to the Sensex's 0.24%. Today's trading activity indicates a rising investor participation, with a delivery volume increase of 94.05% against the 5-day average. The stock is trading above its 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a positive trend. The company has reported impressive financial growth, including a 54.10% annual increase in net sales and a 21.9% rise in net profit, which has contributed to its favorable market performance.
In the broader market context, while the Sensex has generated a negative return of -0.76% over the past month, Alpex Solar's strong performance stands out, indicating that it is gaining traction among investors despite market challenges. The stock's liquidity is adequate for trading, which further supports its upward movement. However, it is important to note that the stock is considered very expensive based on its valuation metrics, which could pose risks if market conditions shift. Overall, the combination of strong financial results, positive investor sentiment, and relative outperformance against the benchmark has contributed to the stock's rising price.