Why is India Nipp.Elec. falling/rising?

As of 05-Sep, India Nippon Electricals Ltd is experiencing a price increase, currently at Rs. 882.85, reflecting a rise of 29.85 points or 3.5%. The stock has recently hit a new 52-week and all-time high of Rs. 889, demonstrating strong performance with a 14.55% gain over the last six days. It has outperformed its sector by 3.11% today and opened with a 2.85% gain. The stock is trading above all key moving averages, indicating positive momentum. Additionally, the company has shown healthy long-term growth, with operating profit increasing at an annual rate of 36.40%, and a return on equity (ROE) of 11.6, suggesting a fair valuation despite trading at a premium compared to peers.
In the broader market context, India Nippon Electricals Ltd has significantly outperformed the Sensex, with a 1-week return of 11.01% compared to the benchmark's 1.13%. Year-to-date, the stock has gained 24.63%, while the Sensex has only increased by 3.29%. This strong performance is supported by rising investor participation, as evidenced by a 31% increase in delivery volume. The company's low debt-to-equity ratio and consistent returns over the past three years further bolster investor confidence, contributing to the stock's upward trajectory.