Why is Paras Defence falling/rising?

As of 23-Jun, Paras Defence and Space Technologies Ltd is experiencing a price increase, currently at Rs 1,734.40, reflecting a rise of Rs 79.95 or 4.83%. The stock has shown strong performance today, outperforming its sector by 1.82%, and has been on a consecutive gain streak for the last four days, accumulating a total return of 6.4% during this period. Additionally, the stock is trading above all its moving averages, indicating positive momentum. Over the past year, it has generated a return of 26.46%, significantly outperforming the Sensex, which has only increased by 6.07%. The company has also reported very positive financial results, including a 49.78% growth in net profit and strong sales figures, contributing to its favorable market perception.
In the broader market context, Paras Defence's short-term return of 6.22% over the past week stands in stark contrast to the Sensex's modest increase of 0.12%, showcasing the stock's strong relative performance. The defence sector overall has gained by 3.01%, further supporting the stock's upward movement. However, there are some risks to consider, such as its relatively high valuation metrics compared to peers, which could impact future price movements. Despite these concerns, the company's low debt-to-equity ratio and consistent positive results over the last four quarters bolster investor confidence, contributing to the stock's rising trend.