Why is Onix Solar falling/rising?

As of 07-Jul, Onix Solar Energy Ltd's stock price is currently at 379.85, reflecting an increase of 7.4, or 1.99%. The stock has been on an upward trend, gaining for the last four consecutive days and achieving an overall return of 8.22% during this period. It has outperformed its sector by 3.57% today and is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Additionally, the stock has shown impressive returns over various periods, including a 314.77% increase over the past year and a staggering 1599.55% over the last three years. Positive financial results, such as a higher PAT and PBDIT, along with consistent returns that have outperformed the BSE500, contribute to the stock's favorable movement.
In the broader market context, Onix Solar's recent performance stands in stark contrast to the Sensex, which has seen a slight decline of 0.20% over the past week. While the stock has gained 6.06% in the same timeframe, it highlights its strong relative performance against the benchmark. Despite a significant drop in delivery volume, which fell by 92.12% against the 5-day average, the liquidity remains adequate for trading. The majority of shareholders being non-institutional may also indicate a stable investor base, further supporting the stock's upward trajectory.