Why is Onix Solar falling/rising?

As of 18-Jul, Onix Solar Energy Ltd is experiencing a price increase, currently at 418.55, reflecting a rise of 8.2 or 2.0%. The stock has shown strong performance today, outperforming its sector by 2.18% and has been on a consecutive gain streak for the last five days, accumulating a return of 10.36% during this period. It opened with a gain of 2% and reached an intraday high of Rs 418.55. Additionally, Onix Solar has consistently outperformed the BSE500 over the last three years, generating impressive returns of 335.31% in the past year and 1239.36% over three years. Positive quarterly results, including the highest PAT and PBDIT figures, further bolster investor confidence, despite a significant drop in delivery volume.
In the broader market context, while Onix Solar has shown remarkable short-term performance, the benchmark Sensex has declined by 0.90% over the past week, highlighting the stock's strong relative performance. The stock's year-to-date return of 81.47% and its ability to trade above all moving averages indicate robust momentum, contrasting sharply with the benchmark's modest 4.63% increase. This divergence suggests that Onix Solar is benefiting from specific company strengths and investor sentiment, even as the overall market faces challenges.