Why is ASM Technologies falling/rising?

As of 22-Sep, ASM Technologies Ltd is experiencing a price increase, with its current price at Rs 4,376.75, reflecting a rise of 208.4 points or 5.0%. The stock has been gaining momentum, having outperformed its sector by 7.61% today and has shown a consecutive gain over the last two days, with a total return of 5.19% during this period. The stock is currently trading close to its 52-week high, just 2.82% away from Rs 4,500. Additionally, the company has demonstrated strong financial performance, with a low Debt to EBITDA ratio of 1.28 times and a significant annual growth rate of 56.24% in operating profit. Despite a very expensive valuation indicated by a high Enterprise value to Capital Employed ratio, the stock has outperformed the BSE500 over the last three years, one year, and three months, generating a remarkable return of 158.41% in the past year.
In the broader market context, ASM Technologies' short-term performance has been slightly lower than the benchmark Sensex, which increased by 0.46% over the past week, while the stock only gained 0.06%. However, the stock's year-to-date performance is significantly stronger, with a return of 219.70% compared to the Sensex's 5.15%. The IT - Software sector has faced a decline of 2.6%, yet ASM Technologies has managed to maintain its upward trajectory, indicating strong investor confidence despite falling investor participation in terms of delivery volume. This resilience in the face of broader sector challenges highlights the company's robust fundamentals and market-beating performance.