Why is NIBE falling/rising?

As of 10-Jun, NIBE Ltd's stock price is rising, currently at 1,818.70, reflecting an increase of 137.6 or 8.19%. The stock has shown strong performance today, outperforming its sector by 6.77% and has gained 8.52% over the last two days. It opened with a gain of 3.05% and reached an intraday high of Rs 1846.2, marking a 9.82% increase. Over the past week, the stock has risen by 6.11%, and in the last month, it has surged by 36.14%. Positive factors contributing to this rise include a strong ability to service debt, as indicated by a low Debt to EBITDA ratio of 1.08 times, and impressive long-term growth with net sales increasing at an annual rate of 206.85%. Additionally, rising promoter confidence, with a 0.66% increase in their stake, suggests optimism about the company's future.
In the broader market context, NIBE's short-term performance has significantly outpaced the benchmark Sensex, which has only increased by 2.05% over the past week. While the stock has shown remarkable gains, it is important to note that it is currently in a mildly bearish technical range, with some indicators suggesting a deterioration in trend. Despite this, the stock's valuation appears expensive with a high PEG ratio of 8, and recent quarterly results showed declines in net sales and profit after tax. However, the overall positive sentiment from strong sales growth and promoter confidence seems to be driving the stock's recent upward movement.