Why is Bharat Electron falling/rising?

As of 30-Jun, Bharat Electronics Ltd is experiencing a price increase, currently at Rs 421.70, reflecting a rise of Rs 6.75 or 1.63%. The stock has been gaining momentum, having risen for the last three consecutive days with a total return of 3.93% during this period. It is trading close to its 52-week high, just 1.17% away from Rs 426.65. The stock is performing well above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating strong upward momentum. Despite a slight decline in delivery volume, the stock maintains a healthy liquidity level, making it suitable for trading. The company has demonstrated robust long-term fundamentals, with a strong return on equity (ROE) of 22.22% and consistent positive results over the last six quarters, contributing to investor confidence.
In the broader market context, Bharat Electronics Ltd's recent performance has been relatively strong compared to the benchmark, with a 1-week return of +0.19% against the Sensex's +2.09%, and a 1-month return of +9.65% compared to the Sensex's +2.65%. The stock has significantly outperformed the benchmark over the year, generating a return of 37.72% versus the Sensex's 5.79%. This outperformance, coupled with high institutional holdings at 38.44%, suggests that informed investors are optimistic about the company's future prospects. However, it is important to note that the stock is considered expensive based on its valuation metrics, which may pose risks if market conditions change.