Why is BHEL falling/rising?

As of 22-Sep, Bharat Heavy Electricals Ltd. (BHEL) is experiencing a price increase, currently at Rs 239.60, reflecting a change of 2.05 (0.86%) upward. The stock has shown a positive performance today, outperforming its sector by 1.48% and has been on a consecutive gain streak for the last six days, accumulating a total return of 4.77% during this period. Despite opening with a significant loss of -7.35%, the stock reached an intraday high of Rs 242.45. Over the past week, BHEL has outperformed the Sensex, with a return of +4.40% compared to the benchmark's +0.46%. However, it is important to note that the stock has a negative return of -9.98% over the past year, indicating some underlying challenges. The company has a low Debt to Equity ratio at 0.03 times, and its operating profit has grown at an annual rate of 18.96%, which could support its recent price movement. However, the company has reported a significant drop in PAT and has a very expensive valuation compared to its peers, which may raise concerns among investors.
In the broader market context, BHEL's short-term performance has been notably stronger than the Sensex, particularly over the last week and month, where it has achieved returns of +4.40% and +9.63%, respectively, compared to the Sensex's +0.46% and +1.05%. This indicates that BHEL is gaining traction among investors, possibly due to rising institutional holdings, which have increased by 1.32% over the previous quarter. The stock's liquidity is also favorable, with a significant increase in delivery volume, suggesting heightened investor interest. However, the overall negative return of -9.98% over the past year, coupled with poor quarterly performance metrics, suggests that while the stock is currently rising, there are significant risks and challenges that could impact its future performance.