Why is ASM Technologies falling/rising?

As of 15-Jul, ASM Technologies Ltd is experiencing a price increase, currently at Rs 2,934.30, which reflects a rise of Rs 144.6 or 5.18%. The stock has recently hit a new 52-week and all-time high of Rs 2,949.75, demonstrating strong performance today by outperforming its sector by 4.8%. Over the past three days, the stock has gained 11.15%, and it is trading above all key moving averages. The company has shown impressive returns, with a year-to-date increase of 114.34% and a one-year return of 81.53%. Positive factors contributing to this rise include a strong ability to service debt, healthy long-term growth in operating profit, and consistent returns over the last three years. However, the stock's valuation is considered very expensive, and the lack of domestic mutual fund investment may indicate some caution among institutional investors.
In the broader market context, ASM Technologies has significantly outperformed the benchmark Sensex, which has declined by 1.36% over the past week while the stock itself has risen by 10.73%. This stark contrast highlights the stock's strong performance relative to the market. The company's impressive financial results, including a net profit growth of 193.32% and a low Debt to EBITDA ratio, further support its upward trajectory. Despite the risks associated with its high valuation and minimal domestic mutual fund holdings, the overall positive sentiment and strong financial indicators have propelled the stock's price higher in the current market environment.