Why is Garden Reach Sh. falling/rising?

As of 22-Sep, Garden Reach Shipbuilders & Engineers Ltd is experiencing a price increase, currently at Rs 2,667.00, reflecting a rise of 62.9 points or 2.42%. The stock opened with a notable gain of 3.63% today and reached an intraday high of Rs 2,761.65, marking a 6.05% increase. Over the past week, the stock has outperformed the sector by 1.07% and has shown impressive returns, with a 64.87% increase year-to-date and a 655.42% increase over the last three years. The company's strong fundamentals, characterized by a low debt-to-equity ratio and significant growth in net sales and operating profit, contribute positively to its stock performance. Additionally, an increase in institutional investor participation, which has risen by 1.41% in the last quarter, indicates growing confidence in the company's prospects.
In the broader market context, the stock's short-term performance significantly outpaces the benchmark, with a 7.14% increase over the past week compared to the Sensex's 0.46% rise. This trend highlights the stock's resilience and attractiveness to investors despite a recent decline in delivery volume, which fell by 51.2% against the five-day average. While the stock is trading at a premium valuation and has a high price-to-book value, the overall positive sentiment driven by strong earnings growth and consistent returns over the past three years suggests that investors remain optimistic about its future performance.