Why is Bharat Electron falling/rising?

As of 01-Jul, Bharat Electronics Ltd is experiencing a price increase, currently at Rs 432.30, reflecting a rise of Rs 10.6 or 2.51%. The stock has reached a new 52-week high of Rs 435.95 today and has shown consistent performance, gaining 6.54% over the last four days. Over the past week, the stock has outperformed the Sensex, with a return of 3.29% compared to the benchmark's 2.00%. The company has demonstrated strong long-term fundamentals, including a robust average Return on Equity (ROE) of 22.22% and significant growth in net sales and operating profit. Additionally, high institutional holdings at 38.44% suggest confidence in the company's performance, further supporting the stock's upward movement.
In the broader market context, Bharat Electronics has significantly outperformed the Sensex over various periods, including a year-to-date return of 47.52% against the benchmark's 7.11%. The defense sector, in which Bharat Electronics operates, has also seen a positive movement, gaining 2.39%. However, there is a noted decline in investor participation, with delivery volume falling by 38.75% against the five-day average, which could indicate a potential risk. Despite this, the stock's strong historical performance and positive quarterly results contribute to its rising price, suggesting that investor sentiment remains optimistic despite some liquidity concerns.