Why is GE Vernova T&D falling/rising?

As of 24-Jul, GE Vernova T&D India Ltd's stock price is currently at 2,520.50, reflecting an increase of 15.55 or 0.62%. The stock has recently hit a new 52-week and all-time high of Rs 2570.2, and it has outperformed its sector by 0.9%. Over the past four days, the stock has gained 6.64%, although it opened the day with a loss of 3.98%. The stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Positive factors contributing to the stock's rise include a strong ability to service debt, healthy long-term growth in operating profit, and consistent positive results over the last eight quarters. Additionally, high institutional holdings at 41.23% indicate confidence from more knowledgeable investors, further supporting the stock's upward movement.
In the broader market context, GE Vernova T&D has shown strong performance compared to the benchmark, with a 4.20% increase over the past week while the Sensex has decreased by 0.09%. The stock has also outperformed the benchmark over longer periods, including a 21.76% increase year-to-date and a remarkable 2290.23% rise over the past three years. This consistent outperformance highlights the stock's resilience and attractiveness to investors, despite some concerns regarding its high valuation metrics, such as a Price to Book Value of 36.4. Overall, the stock's strong fundamentals and positive market sentiment contribute to its rising price.