Why is Olectra Greentec falling/rising?

As of 04-Aug, Olectra Greentech Ltd's stock price is currently at 1,453.00, reflecting an increase of 9.7 (0.67%). The stock has been gaining over the last two days, with a total return of 2.98% during this period. Despite underperforming its sector by 1.16% today, it is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. The company has shown strong financial performance, with net sales growing at an annual rate of 55.14% and operating profit increasing by 81.89%. However, it has a high valuation with a Price to Book Value of 11.4, and its return on equity stands at 13.2, which may deter some investors. Additionally, domestic mutual funds hold only a small stake of 0.49%, indicating a lack of confidence at current price levels.
In the broader market context, Olectra Greentech has outperformed the benchmark Sensex over the past week and month, with returns of 1.26% and 21.15%, respectively, while the Sensex has seen a decline of 2.89% over the same month. However, the stock has underperformed the market over the past year, with a return of -13.34% compared to the Sensex's slight gain of 0.05%. This disparity suggests that while the stock has shown recent strength, its longer-term performance has raised concerns among investors, particularly given its significant drop over the past year despite rising profits.