Why is Bharat Electron falling/rising?

As of 04-Jul, Bharat Electronics Ltd is experiencing a price increase, currently at Rs 427.55, reflecting a rise of 1.4 (0.33%). The stock has shown a positive trend, gaining after two consecutive days of decline, and is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. It is also close to its 52-week high, just 1.96% away from Rs 435.95. Over the past week, the stock has outperformed the Sensex, with a return of +3.04% compared to the benchmark's -0.74%. The company has demonstrated strong long-term fundamentals, including a healthy average return on equity (ROE) of 22.22% and consistent positive results over the last six quarters, which have likely contributed to the stock's upward movement.
In the broader market context, while Bharat Electronics has shown impressive returns, including +45.90% year-to-date and +34.73% over the past year, the Sensex has only increased by +6.77% and +4.23% respectively during the same periods. This indicates that Bharat Electronics is significantly outperforming the broader market. However, it is important to note that there has been a decline in investor participation, with delivery volume falling by -62.93% against the 5-day average, which could pose a risk to sustained price increases. Despite this, the high institutional holdings at 38.44% suggest strong confidence from knowledgeable investors, further supporting the stock's positive outlook.