Why is Onix Solar falling/rising?

As of 17-Jul, Onix Solar Energy Ltd is experiencing a price increase, currently at 410.35, reflecting a rise of 8.0 points or 1.99%. The stock has shown strong performance, gaining 8.2% over the last four days and outperforming its sector by 1.46% today. It has consistently traded above its moving averages for 5, 20, 50, 100, and 200 days, indicating a bullish trend. Over the past year, the stock has delivered an impressive return of 326.78%, significantly outperforming the BSE500 index in each of the last three annual periods. Positive financial results, including the highest quarterly profit after tax and earnings before interest and taxes, have contributed to this upward momentum.
In the broader market context, Onix Solar's short-term return of 6.05% over the past week stands in stark contrast to the Sensex, which has declined by 1.12% during the same period. This divergence highlights the stock's resilience and strength relative to the overall market. However, it is worth noting that investor participation has decreased, with delivery volumes falling by 87.99% compared to the five-day average, which may raise concerns about liquidity despite the stock's current performance. Overall, the combination of strong financial results and consistent returns over the years has positioned Onix Solar favorably, contributing to its rising stock price.