Why is Bharat Electron falling/rising?

As of 17-Sep, Bharat Electronics Ltd is experiencing a price increase, currently at Rs 412.30, reflecting a rise of Rs 9.5 or 2.36%. The stock has been gaining momentum, with a consecutive gain over the last two days and a total return of 3.51% during this period. It has also touched an intraday high of Rs 416.6. The stock is trading above all its moving averages, indicating a strong upward trend. Over the past week, Bharat Electronics has outperformed the Sensex, with a return of 6.26% compared to the benchmark's 1.56%. The company has demonstrated strong long-term fundamentals, including a high return on equity (ROE) of 22.22%, consistent positive results over the last seven quarters, and significant institutional holdings, which have increased by 0.72% over the previous quarter.
In the broader market context, the stock's performance is notably strong, with a year-to-date return of 40.69%, significantly surpassing the Sensex's 5.83% during the same period. The defence sector, in which Bharat Electronics operates, has also seen a gain of 2.23%, contributing to the positive sentiment around the stock. However, there are concerns regarding falling investor participation, as evidenced by a 24.91% decrease in delivery volume compared to the five-day average. Despite this, the stock remains liquid enough for trading, and its valuation, while considered expensive compared to peers, is supported by robust growth metrics, including a 32.97% increase in profit before tax. Overall, the combination of strong fundamentals and sector performance has driven the stock's recent rise.