Why is Paras Defence falling/rising?

As of 05-Jun, Paras Defence and Space Technologies Ltd is experiencing a price increase, currently at Rs 1,722.70, reflecting a rise of Rs 99.7 or 6.14%. The stock has shown strong performance today, outperforming its sector by 5.35%, and has gained 8.16% over the last three days. It reached an intraday high of Rs 1,740.75, and is trading above its moving averages across various time frames. Additionally, the company has demonstrated robust financial health with a low debt-to-equity ratio of 0.03 and a significant net profit growth of 49.78%. The stock's bullish technical indicators, including MACD and Bollinger Bands, further support its upward momentum.
In the broader market context, Paras Defence has outperformed the Sensex, which has seen a slight decline of 0.23% over the past week, while the stock itself has risen by 5.95%. Over the past month, the stock has increased by 25.22%, significantly outpacing the Sensex's 0.80% gain. This trend of strong performance is consistent with the company's long-term returns, having generated 107.43% over the past year compared to the Sensex's 9.49%. Despite some concerns regarding its valuation, the overall market-beating performance and positive investor sentiment contribute to the stock's rising price.