Why is Dixon Technolog. falling/rising?

As of 23-Jul, Dixon Technologies (India) Ltd is experiencing a price increase, currently at Rs 16,553.95, which reflects a rise of 441.75 or 2.74%. Today's price summary indicates that the stock has outperformed its sector by 0.45%, reaching an intraday high of Rs 16,671.15, a 3.47% increase. The stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating strong momentum. Over the past week, the stock has gained 2.84%, and it has shown impressive performance over the past year with a return of 51.29%, significantly outperforming the broader market. The company has demonstrated strong fundamentals, including a 106.61% growth in net profit and consistent positive results over the last ten quarters, which has likely contributed to the stock's upward movement.
In the broader market context, Dixon Technologies has outperformed the Sensex, which has only increased by 0.11% over the past week. The consumer durables sector, in which Dixon operates, has gained 2.28%, reflecting positive sentiment in the industry. Additionally, the stock's high institutional holdings at 44.88% suggest confidence from knowledgeable investors, further supporting its price rise. However, it is important to note that while the stock has performed well, it is considered to have an expensive valuation based on its ROCE and PEG ratio, which could pose risks if market conditions change. Overall, the combination of strong financial performance and positive market sentiment has driven the stock's recent gains.