Why is Hitachi Energy falling/rising?

As of 22-Jul, Hitachi Energy India Ltd's stock price is rising, currently at Rs 20,133.50, reflecting an increase of Rs 833.5 or 4.32%. The stock has been performing well, having outperformed its sector by 4.97% today and gaining 5.55% over the last two days. It is also close to its 52-week high, just 2.81% away from Rs 20,700. Over the past week, the stock has shown a return of 9.60%, significantly outperforming the Sensex, which has declined by 0.47%. Additionally, the company has demonstrated strong financial performance, with a net profit growth of 33.86% and consistent positive results over the last five quarters, contributing to investor confidence.
In the broader market context, while Hitachi Energy has shown impressive returns, the Sensex has experienced a slight decline, indicating that the stock's rise is not reflective of the overall market trend. The stock's performance over the past year has been remarkable, with a 75.07% return compared to the Sensex's 2.09%. However, there are concerns regarding long-term growth, as net sales have only grown at an annual rate of 9.55% over the last five years, and the stock is considered expensive with a high Price to Book Value ratio of 21.3. Despite these risks, the increase in foreign institutional investors' holdings to 7.2% suggests a positive outlook among certain investors, further supporting the stock's upward movement.