Why is India Nipp.Elec. falling/rising?

As of 01-October, India Nippon Electricals Ltd's stock price is rising, currently at 1,005.00, reflecting an increase of 101.4, or 11.22%. The stock has recently hit a new 52-week and all-time high of Rs 1,055, demonstrating strong performance today by outperforming its sector by 10.1%. After experiencing five consecutive days of decline, the stock has reversed this trend, showing resilience with a significant intraday high of Rs 1,055, and it has consistently outperformed the benchmark indices over various time frames, including a 25.96% increase over the past month and a 41.88% rise year-to-date. The company maintains a low debt-to-equity ratio and has shown healthy long-term growth, with operating profit increasing at an annual rate of 36.40%. Despite trading at a premium compared to its peers, the stock's fair valuation and consistent returns over the last three years contribute positively to its recent upward movement.
In the broader market context, the stock's short-term return of +3.73% over the past week stands in stark contrast to the Sensex, which has declined by 0.90% during the same period. This indicates that India Nippon Electricals Ltd is not only performing well on its own but is also gaining traction relative to the broader market. The stock's liquidity remains adequate for trading, although there has been a noted decrease in investor participation, with delivery volume falling by 27.37% against the five-day average. Overall, the combination of strong company fundamentals, recent price performance, and relative strength against the benchmark suggests a positive outlook for the stock.