Why is Onix Solar falling/rising?

As of 01-Aug, Onix Solar Energy Ltd is experiencing a rise in its stock price, currently at Rs. 510.00, reflecting an increase of 10.0 points or 2.0%. The stock has recently hit a new 52-week and all-time high of Rs. 510, and it has been on a positive trajectory, gaining 34.48% over the last 15 days. Additionally, it has outperformed its sector by 4.41% today and is trading above all key moving averages, indicating strong momentum. Positive financial results reported for March 25, including the highest PAT and PBDIT, further bolster investor confidence, contributing to the stock's upward movement.
In the broader market context, Onix Solar's performance stands in stark contrast to the Sensex, which has declined by 1.06% over the past week and 3.70% over the past month. The stock's impressive year-to-date return of 121.11% significantly outpaces the Sensex's modest gain of 3.15%. This divergence highlights the stock's strong appeal among investors, particularly in light of rising delivery volumes and increased investor participation, which suggests a robust demand for the shares despite a generally weak market environment.