Why is Supreme Power falling/rising?

As of 16-Jun, Supreme Power Equipment Ltd is experiencing a price increase, currently valued at 190.55, with a change of 3.7, representing a rise of 1.98%. The stock has shown strong performance recently, outperforming its sector by 2.37% today. It is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating positive momentum. Additionally, there has been a significant increase in investor participation, with delivery volume rising by 58.23% compared to the 5-day average. Despite a year-to-date decline of 21.15%, the company has demonstrated high management efficiency with a return on equity (ROE) of 22.78%, and healthy long-term growth with net sales increasing at an annual rate of 42.30% and operating profit at 74.23%.
In the broader market context, the stock has outperformed the Sensex benchmark over the past week and month, with returns of +10.34% and +51.05%, respectively, while the Sensex has seen declines of -0.62% and -0.29%. However, the stock's year-to-date performance remains negative, contrasting with the Sensex's positive return of +5.51%. While the company has shown growth in profits, the stock's valuation appears expensive with a price-to-book value of 6.3, and flat results reported for December 2023 may pose concerns for investors. Overall, the combination of strong recent performance and positive operational metrics contributes to the stock's rising price, despite some underlying valuation concerns.