Why is Bharti Hexacom falling/rising?

As of 27-Jun, Bharti Hexacom Ltd's stock price is rising, currently at Rs 1,971.80, reflecting an increase of Rs 159.1 or 8.78%. The stock has recently reached a new 52-week and all-time high of Rs 2,023.05, with an intraday high reflecting an 11.6% increase. It has outperformed its sector by 8.1% today, and the stock is trading above all key moving averages. Additionally, the stock has shown strong performance over various periods, with a 1-week return of 8.14% and a 1-month return of 13.98%. Positive financial results, including a 79.53% growth in net profit and consistent positive results over the last three quarters, have contributed to the stock's upward movement. However, the stock is considered expensive with a high valuation, which may pose risks.
In the broader market context, Bharti Hexacom's short-term performance significantly outpaces the benchmark, as it has generated an 8.14% return over the past week compared to the Sensex's 2.00% increase. This strong performance is indicative of investor confidence in the company's growth potential, especially given its substantial operating profit growth and market-beating returns over the past year. The stock's liquidity and rising investor participation further support its upward trajectory, suggesting a favorable sentiment in the market despite the noted valuation concerns.