Why is ASM Technologies falling/rising?

As of 24-Jul, ASM Technologies Ltd is experiencing a price increase, currently at Rs 3,188.00, reflecting a rise of 7.3 points or 0.23%. The stock has shown strong performance recently, with a 12.65% increase over the past week and a remarkable 132.87% rise year-to-date. It is currently trading close to its 52-week high, just 3.2% away from Rs 3,290. The stock is outperforming its sector by 1.74% today and is trading above all key moving averages, indicating a positive trend. Additionally, the company has demonstrated strong financial health, with a low Debt to EBITDA ratio of 1.28 times and significant growth in net profit and operating profit over recent quarters, contributing to investor confidence.
In the broader market context, ASM Technologies has outperformed the Sensex, which has seen a slight decline of 0.09% over the past week, while ASM's performance has been robust. The stock's impressive returns over various periods, including a 103.19% increase in the last year, highlight its market-beating performance. However, it is worth noting that domestic mutual funds hold no stake in the company, which could indicate a lack of confidence at current price levels. Despite this, the stock's strong fundamentals and positive growth trajectory suggest that the recent price increase is driven by investor optimism and solid financial results.