Why is RIR Power Electr falling/rising?

As of 25-Jun, RIR Power Electronics Ltd is experiencing a price increase, currently at Rs 2,770.70, reflecting a gain of Rs 113.65 or 4.28%. The stock has shown strong performance today, outperforming its sector by 3.77% and marking its third consecutive day of gains with a total rise of 6.4% during this period. It opened with a gain of 2.75% and reached an intraday high of Rs 2,789.75. Over the past week, the stock has risen by 7.71%, and it has delivered a remarkable 31.27% increase over the last month. The company has consistently reported positive results for the last five quarters, with net sales reaching their highest at Rs 26.46 crore and a significant growth in profit before tax. However, despite these positive indicators, the stock's valuation appears expensive with a price-to-book value of 23.1, and domestic mutual funds hold no stake in the company, which may indicate a lack of confidence at current price levels.
In the broader market context, RIR Power Electronics Ltd has significantly outperformed the benchmark Sensex, which has only increased by 1.61% over the past week and 1.27% over the past month. While the stock has generated a 42.50% return over the last year, the Sensex has only risen by 6.02% during the same period. This strong relative performance suggests that investor sentiment towards RIR Power is positive, particularly in light of its consistent returns over the last three years. However, the company's low debt-to-equity ratio and rising investor participation could be offset by concerns regarding its high valuation and the absence of domestic mutual fund investment, which may temper enthusiasm among potential investors.