Why is Hitachi Energy falling/rising?

As of 03-Nov, Hitachi Energy India Ltd's stock price is rising, currently at 17,936.75, reflecting an increase of 184.75 or 1.04%. Today's price summary indicates that the stock outperformed its sector by 0.97%, reaching an intraday high of Rs 18,111.75, although it also touched a low of Rs 17,268.4. Over the past week, the stock has shown a strong performance with a return of +7.70%, while its year-to-date return stands at +24.81%. The company has demonstrated consistent growth, with a significant increase in net profit of 100.88% and positive results for the last seven consecutive quarters. Additionally, foreign institutional investors (FIIs) have increased their holdings to 9.66%, which may contribute to positive sentiment around the stock.
In the broader market context, while the Sensex has experienced a decline of 0.94% over the past week, Hitachi Energy's strong performance stands out, highlighting its resilience compared to the benchmark. The stock's ability to generate consistent returns over the last three years, outperforming the BSE500 in each of the last three annual periods, further underscores its attractiveness to investors. However, it is important to note that the stock's valuation appears expensive with a price-to-book value of 19, despite trading at a discount compared to its peers' average historical valuations. This combination of strong financial performance and investor interest, set against a backdrop of broader market challenges, helps explain the stock's upward movement.