Why is Onix Solar falling/rising?

As of 04-Aug, Onix Solar Energy Ltd is currently priced at Rs 499.80, reflecting a decrease of Rs 10.2 or 2.0%. The stock has recently experienced a trend reversal after 15 consecutive days of gains, which has contributed to its current decline. Despite this drop, the stock reached a new 52-week and all-time high of Rs 520.2 earlier in the day, indicating strong upward momentum prior to the decline. Over the past week, Onix Solar has shown a return of +6.07%, significantly outperforming the Sensex, which only increased by +0.16%. Additionally, the stock has demonstrated impressive long-term performance, with a year-to-date return of +116.69% compared to the Sensex's +3.69%. Positive quarterly results have also been reported, with the highest PAT and PBDIT figures recorded, suggesting strong underlying financial health.
In the broader market context, Onix Solar's recent performance contrasts sharply with the benchmark index, as it has outperformed the Sensex in both the short and long term. The stock's liquidity appears adequate, with a significant increase in delivery volume, indicating rising investor participation. However, the current decline may be attributed to profit-taking after a substantial rally, as evidenced by the stock's underperformance against its sector by -3.6% today. Overall, while Onix Solar has shown robust growth and positive financial indicators, the recent price drop reflects a natural correction following an extended period of gains.