Why is RIR Power Electr falling/rising?

As of 21-Jul, RIR Power Electronics Ltd is experiencing a price increase, currently at 1,420.85, which reflects a rise of 63.2 or 4.66%. The stock has shown strong performance today, outperforming its sector by 4.37% and has gained consecutively over the last two days, accumulating a total return of 7.64%. It opened with a gain of 2.75% and reached an intraday high of Rs 1425, indicating positive momentum. Additionally, the stock is trading above its moving averages across various time frames, and there has been a significant increase in delivery volume, suggesting rising investor interest. The company has also reported positive results for the last five consecutive quarters, with net sales reaching a record high and a notable growth in profit before tax, contributing to its recent upward movement.
In the broader market context, RIR Power Electronics Ltd has outperformed the Sensex in the short term, with a 1-week return of +0.32% compared to the benchmark's -0.06%. Despite a year-to-date decline of 1.18% against the Sensex's 5.20% gain, the stock has shown impressive long-term performance, with a 56.90% increase over the past year and a staggering 1187.00% rise over three years. However, there are concerns regarding the stock's valuation, as it has a high price-to-book value and a low return on equity, which may deter some institutional investors, who have reduced their stake slightly. This combination of strong recent performance, positive financial results, and some valuation concerns contributes to the stock's current upward trajectory.