Why is GE Vernova T&D falling/rising?

As of 21-Jul, GE Vernova T&D India Ltd is experiencing a price increase, currently at Rs 2,439.00, reflecting a rise of Rs 75.5 or 3.19%. The stock has shown strong performance today, having outperformed its sector by 2.21% and reaching an intraday high of Rs 2,474, which is 4.68% higher than its previous close. Over the past week, the stock has gained 6.86%, and it has consistently outperformed the benchmark Sensex, which has seen a slight decline of 0.06%. The company has demonstrated robust financial health, with a low Debt to EBITDA ratio of 1.00 times and impressive growth in net profit and operating profit, contributing to a strong buy sentiment among investors.
In the broader market context, while the Sensex has struggled with a minor decline over the past week, GE Vernova T&D has significantly outperformed it, showcasing a year-to-date return of 17.83% compared to the Sensex's 5.20%. The stock's liquidity remains adequate, and institutional holdings are high at 41.23%, indicating confidence from larger investors. However, there are concerns regarding its valuation, as it has a high Price to Book Value of 35.2, which could suggest that the stock is expensive relative to its earnings growth. Despite this, the consistent returns over the past three years and the positive financial results have bolstered investor confidence, leading to the stock's upward movement.