Why is India Nipp.Elec. falling/rising?

As of 23-Sep, India Nippon Electricals Ltd is experiencing a price increase, currently at 1,000.00, reflecting a rise of 22.2 or 2.27%. The stock reached a new 52-week high of Rs. 1009.95 today and opened with a gain of 2.37%. Over the past week, the stock has shown a return of +1.34%, significantly outperforming the Sensex, which declined by -0.34%. Additionally, the stock has demonstrated strong performance over the past month and year, with returns of +25.06% and +26.45%, respectively. The company's low debt-to-equity ratio and healthy long-term growth, with an operating profit growth rate of 36.40%, contribute positively to its recent price movement. However, there has been a notable decline in investor participation, with delivery volume dropping by -62.59% compared to the 5-day average.
In the broader market context, India Nippon Electricals Ltd's short-term performance contrasts sharply with the Sensex, which has shown a decline. The stock's ability to outperform the benchmark while maintaining consistent returns over the last three years highlights its resilience and attractiveness to investors. The company's fair valuation, indicated by a Price to Book Value of 3.2 and a PEG ratio of 0.9, suggests that it remains appealing despite trading at a premium compared to its peers. Overall, the combination of strong fundamentals and recent price momentum supports the stock's upward trajectory.