Why is Olectra Greentec falling/rising?

As of 17-Jul, Olectra Greentech Ltd's stock price is rising, currently at 1,275.15, reflecting an increase of 24.4 (1.95%). The stock has shown positive momentum, gaining for the last three consecutive days with a total increase of 5.21% during this period. It has outperformed its sector by 2.29% today, reaching an intraday high of Rs 1298.5. Additionally, the stock's performance over the past week and month has been favorable, with returns of +2.29% and +8.94%, respectively. The company has demonstrated strong financial health, with net sales growing at an annual rate of 55.14% and operating profit increasing by 81.89%. However, it faces challenges with a high valuation relative to its peers, as indicated by a Price to Book Value of 10, and a low domestic mutual fund ownership of only 0.46%, suggesting potential investor hesitance.
Broader Market Context: In the context of the broader market, Olectra Greentech's short-term performance contrasts with the Sensex, which has declined by 1.12% over the past week. While the stock has underperformed the market over the past year with a return of -29.65% compared to the Sensex's +1.91%, its recent gains indicate a shift in investor sentiment. The stock's liquidity is adequate, with a delivery volume increase of 68.75% against the five-day average, which may reflect growing investor interest despite its previous underperformance. Overall, while the stock has shown positive short-term movements, its long-term outlook remains mixed due to its high valuation and underwhelming historical performance relative to the market.