Why is Bharat Electron falling/rising?

As of 08-Jul, Bharat Electronics Ltd's stock price is rising, currently at Rs 422.05, reflecting a change of Rs 5.0 or 1.2%. The stock's performance today is in line with the sector, and it is close to its 52-week high, being only 3.29% away from Rs 435.95. Over the past month, the stock has shown a strong return of 8.02%, significantly outperforming the Sensex, which has only increased by 1.85%. The company has demonstrated robust long-term fundamental strength, evidenced by a consistent average Return on Equity (ROE) of 22.22% and a healthy growth in net sales and operating profit. Additionally, the stock has seen rising investor participation, with a delivery volume increase of 31.79% against the 5-day average, indicating strong demand.
In the broader market context, while Bharat Electronics has experienced a decline of 2.37% over the past week, its year-to-date return stands at an impressive 44.02%, far exceeding the Sensex's 7.13% increase. This indicates that despite short-term fluctuations, the stock has maintained strong performance over a longer horizon. The high institutional holdings at 38.44% suggest confidence from knowledgeable investors, further supporting the stock's upward movement. However, it is worth noting that the stock is considered expensive with a Price to Book Value of 15.4, which may pose risks if market conditions change. Overall, the combination of strong fundamentals, positive investor sentiment, and solid long-term returns contributes to the stock's rising price.