Why is Onix Solar falling/rising?

As of 03-Jul, Onix Solar Energy Ltd is experiencing a price increase, currently at Rs 365.15, which reflects a rise of Rs 7.15 or 2.0%. The stock has shown a positive performance today, outperforming its sector by 2.43% and has been on a consecutive gain streak for the last two days, accumulating a total return of 4.03% during this period. It opened with a gain of 2% and reached an intraday high of Rs 365.15, trading consistently at this price. Over the past month, the stock has surged by 36.91%, and it has delivered impressive returns of 298.72% over the last year, significantly outperforming the BSE500 index in each of the last three annual periods. Positive financial results reported in March, including the highest PAT and PBDIT for the quarter, contribute to the stock's upward momentum, despite a notable decline in investor participation recently.
In the broader market context, the stock's short-term performance contrasts with the benchmark Sensex, which has decreased by 0.62% over the past week while Onix Solar has fallen by 2.08%. However, the stock's year-to-date performance of 58.31% and a staggering 1879.13% increase over the last three years highlight its strong growth trajectory compared to the benchmark's 6.53% and 57.33% increases, respectively. This sustained outperformance, coupled with the stock trading above all key moving averages, suggests a robust position in the market, despite the recent drop in delivery volume indicating a potential concern for liquidity.