Why is Hitachi Energy falling/rising?

As of 07-Aug, Hitachi Energy India Ltd is experiencing a price increase, currently at Rs 20,715.70, reflecting a rise of Rs 309.95 or 1.52%. The stock has shown strong performance, with a 1-week return of 3.06% and a 1-month return of 5.92%, significantly outperforming the Sensex, which has declined by 0.69% and 3.38% over the same periods, respectively. The stock is also close to its 52-week high, just 4.63% away, and has outperformed its sector by 1.37% today. Despite a decrease in investor participation, as indicated by a 33.02% drop in delivery volume, the company's fundamentals remain strong, with a low debt-to-equity ratio and consistent positive results over the last six quarters, including a 37.1% growth in profit after tax.
Broader Market Context: The broader market context shows that while the Sensex has struggled, Hitachi Energy has thrived, generating an impressive 44.15% return year-to-date compared to the Sensex's 3.18%. This divergence highlights the stock's resilience and attractiveness to investors, particularly as foreign institutional investors have increased their holdings to 7.2%. However, the stock's high valuation, with a price-to-book ratio of 21.9, raises concerns about its sustainability, especially given that its profits have risen significantly while its returns have also been substantial. This combination of strong performance against a backdrop of market challenges contributes to the stock's upward movement.