Why is Avalon Tech falling/rising?

As of 14-Jul, Avalon Technologies Ltd is experiencing a price increase, currently at Rs 877.90, reflecting a rise of 23.9 points or 2.8%. The stock has shown strong performance today, outperforming its sector by 1.84% and reaching an intraday high of Rs 888.4, which is a 4.03% increase. Over the past week, Avalon Technologies has gained 4.45%, and over the past month, it has risen by 5.50%. Despite a year-to-date decline of 9.40%, the stock has delivered an impressive 65.58% return over the past year, significantly outpacing the market's performance. The company has reported outstanding results with a 22.05% growth in net sales and has maintained positive results for the last three consecutive quarters, contributing to investor confidence. However, there has been a decline in investor participation, with delivery volume falling by 25.11% against the 5-day average.
In the broader market context, Avalon Technologies' recent short-term performance contrasts sharply with the benchmark, as the Sensex has declined by 1.42% over the past week. This indicates that the stock is not only performing well relative to its sector but also gaining traction in a challenging market environment. The company's low debt-to-equity ratio and high institutional holdings of 24.45% suggest a solid foundation and confidence from more sophisticated investors, which may further support its price movement. Overall, while the stock faces some challenges in terms of declining participation, its strong fundamentals and recent performance have contributed to its rising price.